JobKeeper – get the facts on the further changes announced today.
Today, Treasurer Josh Frydenberg announced a backflip on tough new JobKeeper rules, meaning more businesses will have access to payments from September.
Here’s the changes simplified:
JobKeeper 1.0 (Initial Subsidy which ends 28th September)
Changes have been made to who is an eligible employee. The change shifts the date the employee was required to be employed by the entity from 12th March 2020 to the 1st July 2020. All other eligibility requirements still apply to employees.
What does this mean?
Any business receiving or going to be receiving Jobeeper Payments that have employed new staff between 12th March 2020 to the 1st July 2020, will now be eligible to claim the subsidy for those employees starting from Fortnight 10 onward (3rd August 2020).
EXAMPLES:
Employee started prior to 12th March 2020(Casual employees required to be regular and systematic for 12 months prior to 12th March 2020). = Can receive as soon as business meets eligibility requirements.
Employee started between 12th March 2020 and 1st July 2020 (Casual Employees required to be regular and systematic for 12 months prior to 1st June 2020). = Can receive from fortnight 10 (3rd August 2020) if business meets eligibility requirements.
Employee started after 1st July 2020 =Not eligible.
No changes have been made to eligible employees for Fortnights 1 – 9 (inclusive).
JobKeeper 2.0 (Extension of JobKeeper 1.0 which starts 28th September)
Changes have been made to the business eligibility requirements. Businesses will now only have to meet the decline in turnover test for the July to September quarter to access JobKeeper from 28th September to end of December.
Also, payment rates will still be reduced as per original JobKeeper 2.0 announcement.
As further changes or announcements are made, we will endeavor to keep our clients and local business community updated.
We hope you find this information helpful!
Stay safe & well everyone,
The Highview Team.