JobKeeper extension – ECONOMIC RESPONSE TO THE CORONAVIRUS – By the Australian Government

JobKeeper extension – ECONOMIC RESPONSE TO THE CORONAVIRUS – By the Australian Government

The JobKeeper Payment will continue to be available to eligible businesses (including the
self-employed) and not-for-profits until 28 March 2021.
The payment rate of $1,500 per fortnight for eligible employees and business participants will be reduced after 27 September with the new rate of $1,200 per fortnight from 28 September 2020 and $1,000 per fortnight from 4 January 2021. From 28 September 2020, a lower payment rate of $750 per fortnight ($650 per fortnight from 4 January 2021) will apply for employees and business participants that worked fewer than 20 hours per week.
From 28 September 2020, businesses and not-for-profits seeking to claim the JobKeeper Payment will be required to demonstrate that they have suffered an ongoing significant decline in turnover using actual GST turnover (rather than projected GST turnover) for the June and September quarters 2020.

 

They will need to demonstrate that they have met the relevant decline in turnover test in both of those quarters to be eligible for the JobKeeper Payment from 28 September 2020 to 3 January 2021.
From 4 January 2021, businesses and not-for-profits will need to further reassess their turnover to be eligible for the JobKeeper Payment. They will need to demonstrate that they have met the relevant decline in turnover test with reference to their actual GST turnover in each of the June, September and December quarters 2020 to remain eligible for the JobKeeper Payment from 4 January 2021 to 28 March 2021.
To be eligible for JobKeeper Payments under the extension, businesses and not-for-profits will still need to demonstrate that they have experienced a decline in turnover of:
• 50 per cent for those with an aggregated turnover of more than $1 billion;
• 30 per cent for those with an aggregated turnover of $1 billion or less; or
• 15 per cent for Australian Charities and Not for profits Commission-registered charities
(excluding schools and universities).
If a business or not-for-profit does not meet the additional turnover tests for the extension period,
this does not affect their eligibility prior to 28 September 2020.

 

The JobKeeper Payment will continue to remain open to new recipients, provided they meet the existing eligibility requirements and the additional turnover tests during the extension period.
Other eligibility rules for businesses and not-for-profits and their employees remain unchanged.
Further information on those rules is at: www.ato.gov.au/General/JobKeeper-Payment/.

 

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