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.

What Our Clients Say

I'm really enjoying the personalised touch and service I'm receiving from Ian and Siarn. Always prompt, professional and happy to answer my silly questions and help me stay informed. I've been a client of Bill's and HQB for about 20 years. Since Bills retirement he passed me on to Ian and the quality of the service just seems to keep getting better. HQB comes highly recommended by me.
Trent Allen
Trent Allen
03:43 25 Jun 20
We highly recommend the team at HQB. We are a Sydney based business, and we find the team highly professional, responsive, and just a pleasure to deal with. They are very proactive and we feel as though we are a valued client. Well done to Brad Sheaves and team HQB !
Alastair Fysh
Alastair Fysh
04:31 25 May 20
HQB accountants have been an asset to our business. They have made Job Keeper a breeze and kept our business strong. They respond to emails quickly. They have been terrific value for us as they have brought knowledge and expertise that I don't have even if I had the time to do my accounting. They have taken the time to understand my business and structure our finances accordingly.
Kyle Maloney
Kyle Maloney
06:19 22 May 20
Amazing service from James (& Brianna), going well above his responsibilities to his clients. Cannot recommend James highly enough. HQB a highly professional and responsive accounting firm. Incredibly quick at responding, yes, often after hours, which is more than we would ever expect from any professional. I am continually recommending James to friends and family. Many thanks James. Kind regards, Lyn (& Jeff) Green
Jeff Green
Jeff Green
01:02 17 May 20
James became our Accountant last year and he has handled all our entities swiftly and pro actively. We are incredibly impressed with him and HQB and feel very comfortable in their hands to manage our Business. James is always prompt in replying and sometimes out of hours and his handling of our recent predicament with COVID 19 has helped us manage our Business successfully through this trying time. Thank you James and the team at HQB. We will always recommend you highly,.
Pandora Colledge
Pandora Colledge
01:36 15 May 20

Subscribe to Our Newsletter

Get all the latest news from HQB delivered direct to your inbox

Your Name (required)

Your Email (required)

 
246

Days left until the new financial year. Get your tax sorted today. Click here to get started.