As the Federal Government announces the extension of the JobKeeper payment, both employers and employees are all grappling to try to understand what this JobKeeper extension really means.
The Extension will feature a two tiered payment
How much is the new Jobkeeper?
From the 28th September 2020 to 3rd January 2021, the Jobkeeper payment rates will be as follows :
$1,200 per fortnight for all eligible employees who, in the four weeks of pay periods before the 1st March 2020, were working in the business for 20 hours or more a week on average.
For eligible business participants who were actively engaged in the business for 20 hours or more per week on avg in the month of February 2020
$750 per fortnight for other eligible business participants and employees.
From the 4th January 2021 to 28 March 2021, the Jobkeeper payment rates will be as follows :
$1,000 per fortnight for all eligible employees who, in the four weeks of pay periods before the 1st March 2020, were working in the business for 20 hours or more a week on average.
For eligible business participants who were actively engaged in the business for 20 hours or more per week on avg in the month of February 2020
$750 per fortnight for other eligible business participants and employees.
Eligibility though, is a key factor to this JobKeeper Extension
Eligibility will continue to be based on the 30%, 50% or 15% (depending on the size of the business and whether or not it's a charity) reduction in turnover test. These tests will remain the same but will need to be re-applied and re-evaluated at the end of September 2020 and the start of January 2021
Employers will need to demonstrate that they have met the relevant turnover decline in both the June 2020 and September 2020 quarters to be eligible for JobKeeper in the December 2020 quarter.
Employers will need to demonstrate that they have met the relevant decline in each of the previous three quarters, ending Dec 31st, 2020 to remain eligible in the March 2021 quarter
If you need more information on this, or would like us to help you with your decline in turnover test, feel free to get in touch.
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