Extension of the JobKeeper Payment
Sep 28, 2020
The key changes include:
- the program’s extension
- a requirement to demonstrate a decline in actual GST turnover with a comparable period
- changes to JobKeeper payment rates for employees based on average hours worked.
If you're already receiving JobKeeper payments for your employees, you don’t need to do anything differently until 28 September 2020.
Continue to pay all eligible employees $1,500 per fortnight (before tax) up to and including JobKeeper fortnight 13, which ends on 27 September 2020.
From 28 September 2020, there will be a tier 1 and a tier 2 JobKeeper payment rate.
You'll need to nominate the rate you're claiming for each of your eligible employees and/or business participants.
For the first extension period from 28 September 2020 to 3 January 2021, the tier 1 rate will be $1,200 per fortnight, and the tier 2 rate will be $750 per fortnight. Both rates are before tax.
For the second extension period from 4 January 2021 to 28 March 2021, the tier 1 rate will be $1,000 per fortnight, and the tier 2 rate will be $650 per fortnight. Both rates are before tax.
Ensure you pay your eligible employees the right amounts so you are reimbursed correctly when you make your monthly business declarations.