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Jobkeeper 2.0: Keeping you updated


From 28 September, Jobkeeper is receiving an overhaul.

In Jobkeeper 2.0 we'll see reduced payments, and continued requirements. We'll use this blog to keep you updated about the pending changes as they roll out. You'll always be able to find out when this blog was updated, and what the major changes were, here:

  Blog updated on: 07/08/2020
  Latest changes: 
  • Eligibility for JobKeeper 2.0 will be based on single quarters.
  • The reference date for assessing which employees are eligible for the existing and extended JobKeeper scheme is now 1 July 2020.


For the latest updates, make sure you check https://treasury.gov.au/coronavirus/jobkeeper 


What are the Jobkeeper 2.0 Payment amounts?

From September 28th 2020 forward, we'll no longer see a flat $1,500 fortnightly wage subsidy, but will be operating in two tiers based on employees performed hours:

During Q2 - (October, November, December)

Tier 1: $1,200 wage subsidy for employees who were on 20 or more hours work a week.

Tier 2: $750 wage subsidy for employees who were on less than 20 hours a week.

During Q3 - (January, February, March)

Tier 1: $1,000 wage subsidy for employees who were on 20 or more hours work a week.

Tier 2: $750 wage subsidy for employees who were on less than 20 hours a week.

What are the eligibility requirements for JobKeeper?

Businesses will still be required to demonstrate the required reduction in turnover compared to last year:

  • 15% decline for ACNC-registered charities.
  • 30% decline for businesses with turnovers of $1 billion or less.
  • 50% decline for businesses with turnovers of over $1 billion.

Eligibility will be re-tested for the first time at the start of Q2 - businesses will have to show a decline during Q1 of FY20/21.

Eligibility will be re-tested once more at the start of Q3 - businesses will have to show a decline during Q2 of FY20/21.

Who is eligible for JobKeeper?

Your employee is eligible under the JobKeeper Payment scheme if they:
  • are employed by you (including those stood down or re-hired)
  • were, at July 1, either a
    • full-time, part-time or fixed term employee, and not a casual employee
    • long-term casual employee (employed on a regular and systematic basis for at least 12 months) and not a permanent employee of any other employer.

Questions?

At Microkeeper we strive to keep you informed about the latest changes in JobKeeper and any potential changes to your reporting in our software. 

For any specific questions regarding JobKeeper, please speak with your accountant.

For questions regarding Microkeeper and Jobkeeper, please feel free to use our contact page or call us directly on 1800 940 838.





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