The Government has announced today (21st July, 2020)  an extension of the JobKeeper program beyond the current finish date of 27th September, 2020.

Please note that the current system will continue to operate until 27^th of September, there have been no announcements of changes to the current system.

The definition of an eligible employee will not change, however there will now be two different rates payable for employees, depending on the average hours they worked in the four weeks up to 1^st March 2020.

Employers will need to reassess their eligibility, based on their ongoing turnover.

There will be two phases in the announced extension:

•             Phase 1  – 28^th September 2020 to 3^rd January 2021

 

            Employees who worked an average of 20 hours or more in the four weeks before 1^st March 2020 will receive $1,200 per fortnight. All other eligible employees will receive $750 per fortnight.

Employers will need to have had their actual turnover for the June 2020 quarter and the September 2020 quarter reduced by the required percentage (30% for most) compared to the same period the previous year. The Commission may allow alternative tests.

•             Phase 2  – 4^th January 2021 to 28^th March 2021

Employees who worked an average of 20 hours or more in the four weeks before 1^st March 2020 will receive $1,000 per fortnight. All other eligible employees will receive $650 per fortnight.

Employers will need to have had their actual turnover for the June 2020 quarter and the September 2020 quarter and the December 2020 quarter reduced by the required percentage (30% for most) compared to the same period the previous year. The Commission may allow alternative tests.

More detail will no doubt come out in the next few weeks so please stay tuned.

Note that the system will continue to remain open to new applications. So if you are not currently claiming you still have the potential to enter the system if you meet the turnover requirements.

If Patrick Rowan and Associates is currently managing your JobKeeper monthly lodgements then we will review your ongoing eligibility as the time draws closer.

If you have any queries, please email: admin@patrickrowan.com.au or contact your Accountant directly via email and we will be in touch.

This is a general summary only. Current as at 21st July, 2020. For more information, please contact your Accountant.