Frances Sievers
July 24, 2020
The government announced on 21st July proposed changes to the JobKeeper program. Please keep in mind that these changes will not come into effect until after 28 September 2020. If your business is currently enrolled in the JobKeeper program you will continue to receive payments up to September 2020 and you will need to continue to lodge monthly declarations by the 14th each month. If your business has not yet met the current criteria, you need to continue to monitor your situation (decline in turnover test etc – refer to our previous blogs on our website) and apply prior to the end of the month you become eligible.
So what are the changes……..
The details of the new eligibility criteria have not yet fully been released but we do know:
From 28 September 2020 to 3 January 2021:
- Reassessment of the 30% decline in turnover test will be required. It will be based on actual turnover and will look at the June and September 2020 quarters.
- Payments will be reduced to $1,200/fortnight for the period October to December for employees/business participants who worked more than 20 hours/week in the four weeks before 1 March 2020
- Payments will be reduced to $750/fortnight for the period October to December for employees/business participants who worked less than 20 hours/week in the four weeks before 1 March 2020
From 4 January 2021 to 28 March 2021:
- Reassessment of the 30% decline in turnover test will be required. It will be based on actual turnover and will look at the June, September and December 2020 quarters.
- Payments will be reduced to $1,000/fortnight for the period January to March for employees/business participants who worked more than 20 hours/week in the four weeks before 1 March 2020
- Payments will be reduced to $650/fortnight for the period January to March for employees/business participants who worked less than 20 hours/week in the four weeks before 1 March 2020
We will continue to evaluate information as it is released and post updates. Please contact Bloom Accounting if you have any questions or need assistance in applying.
