JobKeeper 2.0 Extended till March 2021 to support the economy.

Recently announced, the government is extending the Jobkeeper grant till March 2021 to support targeted businesses adversely affected by the COVID.

 

Jobkeeper 28th of September 2020 to 3rd of January 2021

From 28 September 2020, businesses and not-for-profits seeking to claim the Jobkeeper Payment will be required to demonstrate that they have suffered an ongoing significant decline in turnover using actual GST turnover (rather than projected GST turnover).

 

From 28 September 2020, businesses and not-for-profits will be required to reassess their eligibility with reference to their actual GST turnover in the September quarter 2020. They will need to demonstrate that they have met the relevant decline in turnover test in September quarter to be eligible for the Jobkeeper Payment from 28 September 2020 to 3 January 2021.

The Jobkeeper rates for this period are reduced to $1200 per fortnight for full time employees and $750 per fortnight for part time employees.

 

Jobkeeper 4th of January 2021 to 28th March 2021

From 4 January 2021, businesses and not-for-profits will need to further reassess their turnover to be eligible for the Jobkeeper Payment. They will need to demonstrate that they have met the relevant decline in turnover test with reference to their actual GST turnover in December quarter 2020 to remain eligible for the Jobkeeper Payment from 4 January 2021 to 28 March 2021.

The Jobkeeper rates for this period have been further reduced to $1000 per fortnight for full time employees and $650 per fortnight for part time employees.

 

Definition of Full time and Part time employees

To determine which employees are eligible for the different rates, the basic rule applied by ATO is:

  • Fulltime- Four weeks of pay periods prior to 1 March 2020 worked on average more than 20 hours / week. Active Business participant in the month of February 2020 worked more than 20 hours / week
  • Partime – Four weeks of pay periods prior to 1 March 2020 worked on average less than 20 hours/week. Active Business participant in the month of February 2020 worked less than 20 hours / week.

 

 

Eligibility tests to be passed:

Eligibility Tests

PeriodActual GST turnover decline (15%/30%/50%)
28 September 2020 to January 2021September 2020 quarter (July, August and September 2020) (Compared to 2019)
4 January 2021 – 28 March 2021• December 2020 quarter (October, November and December 2020) (Compared to 2019)

Amount

The amount of the JOBKEEPER payment from the two tiers are:

PeriodFull Time*Part Time
28 September 2020 to 3 January 2021$1,200$750
4 January 2021 – 28 March 2021$1,000$650