JobKeeper 2.0 Is Here

From the 27th of September, the government will initiate significant changes to the current JobKeeper payments that eligible employers have been receiving for the past five months. Nicknamed “JobKeeper 2.0”, the payments will be tested against different eligibility criteria and new payment rates will be introduced.

In a nutshell, the changes will include:

The qualification criteria:

1. 1. The current decline in revenue test remains the same at 30%;
   2. In respect of JobKeeper payments from 28 September to 3 January 2021, employers will be tested based on the decline in their September 2020 quarter turnover, compared to the September 2019 quarter turnover (please note that there is a further test for the period 4 January 2021 to 28 March 2021, which is based upon the December 2020 quarter turnover, but we will contact you closer to that date);
   3. The Government will announce some alternative test options, but these are not clear at this stage.

JobKeeper payment amounts:

1. 1. The fortnightly JobKeeper amount will drop for the period 28 September to 3 January 2021 as follows:
      1. $1,200 per fortnight for workers/eligible business participants exceeding 20 hours per week, and;
      2. $750 per fortnight for other eligible persons.
   2. Please note that there will be further reductions for the period 4 January 2021 to 28 March 2021, and we will detail these closer to that date.

Please contact our office should you need to discuss any of the above changes.

– Ian Hogbin

Posted 03.09.2020

This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.