UPDATED – JobKeeper 2.0 Is Here

As the Rules for JobKeeper continue to evolve, we have updated our previous article posted earlier this month.

From the 27th of September, the government will initiate significant changes to the JobKeeper scheme. Nicknamed “JobKeeper 2.0”, you will need to requalify, and new payment rates will be introduced. The JobKeeper payments will be extended until 28 March 2021 across two separate periods:

• Extension 1: from 28 September 2020 to 3 January 2021
• Extension 2: from 4 January 2021 to 28 March 2021

Additionally, any eligible business can qualify for JobKeeper 2.0. This means that you do not have to be already receiving JobKeeper payments. The extended JobKeeper schemes will be open to new participants, provided they meet the eligibility requirements for the relevant extension period. Further, please note that you could still be eligible for JobKeeper Extension 2 even if you were not eligible for JobKeeper Extension 1.

In a nutshell, the changes will include:

• The current decline in revenue test remains the same at 30%;
• 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);
• We expect the Alternative tests (still to be released) will follow a similar process as per JobKeeper 1.0.

The fortnightly JobKeeper amount will drop for the period 28 September to 3 January 2021 as follows:

• $1,200 per fortnight for workers/eligible business participants exceeding 20 hours per week, and;
• $750 per fortnight for other eligible persons.

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.

If you think you might be eligible for JobKeeper Extension 1, please contact our office for assistance.

– Ian Hogbin

Posted 03.09.2020

Updated 23.09.2020

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.