Covid-19 and JobKeeper Extension

The Australian Federal Government is extending the JobKeeper scheme in support to businesses significantly impacted by Covid-19.

Further to our blog on this subject on 30^th July, below is a recap of some key items that you should review for eligibility.

JobKeeper Extension

The JobKeeper payment has been extended until 28^th March 2021. From 28^th September 2020, eligibility for the JobKeeper Payment will be based on actual turnover in the relevant periods and the payment will be reduced and paid at two rates.

Business Eligibility

From 28^th September 2020, businesses seeking to claim JobKeeper payments will be required to reassess their eligibility and have to meet a further decline in turnover test for each of the two periods of extension, as well as meeting the other existing eligibility requirements for the JobKeeper payment.

In order to be eligible for the first JobKeeper Payment extension of 28^th September 2020 to 3^rd January 2021, businesses will need to demonstrate that their actual GST turnover has fallen by 30% in the September 2020 quarter relative to the comparable period.

In order to be eligible for the second JobKeeper Payment extension period of 4^th January 2021 to 28^th March 2021, businesses will again need to demonstrate that their actual GST turnover has fallen by 30% in the December 2020 quarter relative to the comparable period.

Note that the 30% decline applies to those businesses with an aggregated turnover of $1 billion or less.

JobKeeper Payment Rate

From 28^th September 2020 to 3^rd January 2021 – the payment rate is $1,200 per fortnight for eligible employees who were working 20 hours or more a week on average in the four weekly pay periods before the reference period and $750 per fortnight for eligible employees who worked less than 20 hours per week in the reference period.

From 4^th January 2021 to 28^th March 2021 – the payment rate is $1,000 per fortnight for eligible employees who were working 20 hours or more a week on average in the four weekly pay periods before the reference period and $650 per fortnight for eligible employees who worked less than 20 hours per week in the reference period.

For further information please click here.

Let Us Help

If your business has a turnover of over $1 million, ABJ Solutions is offering a complimentary 1 hour meeting to help answer questions and model critical decisions with you. Get in touch with us today so that we can help guide you through these challenging times.