Less for longer: Extension of JobSeeker and JobKeeper Payments
On 21 July 2020 the Government announced a range of proposals to the JobKeeper and JobSeeker Payments as existing arrangements are set to expire in late September 2020. Certain tax concessions to assist businesses were also extended and have been legislated.
We have summarised each of these changes below.
JobKeeper Payment extended
The JobKeeper Payment will be extended to 28 March 2021 for eligible businesses and not‐for‐profits. However, from 28 September 2020 the JobKeeper Payment rate will reduce. Prior to this announcement, the JobKeeper Payment was to cease on 27 September 2020.
Businesses and not‐for‐profits eligible for extended JobKeeper Payment from 28 September 2020 From 28 September 2020, businesses and not‐for‐profits will need to reassess their eligibility for the JobKeeper Payment by demonstrating they have suffered an ongoing significant decline in turnover using actual GST turnover (rather than projected GST turnover). Other eligibility rules for businesses and not‐for‐profits and their employees remain unchanged.
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