JobKeeper 2.0: extended after September
Posted on July 21st, 2020
Prime Minister Scott Morrison and Treasurer Josh Frydenberg have announced changes to the JobKeeper program, extending beyond the existing September deadline, albeit with significant reductions.
JobKeeper will become a two-tier system based on the number of hours worked from 28th September and scaled back again on 4th January 2021.
Full details of JobKeeper 2.0:
September quarter (from October 1 to December 31):
$1500 fortnightly wage subsidy split into two tiers:
Tier 1: $1200 for those doing 20 or more hours work a week.
Tier 2: $750 for those doing less than 20 hours a week (also become eligible for JobSeeker)
March quarter: (from January 1 to March 28)
Tier 1 reduced to $1000
Tier 2 reduced to $650 (also eligible for JobSeeker).
Business will have to qualify twice for JobKeeper 2.0.
For the December quarter, businesses must show turnover has declined by 30 percent for both the June and September quarters in comparison to the same quarters in the previous year.
On January 1, the December quarter turnover must be shown to be 30 percent lower to qualify for the March quarter JobKeeper payments.