The Government’s JobKeeper Payment will help keep more Australians in jobs and support businesses affected by the significant economic impact of the coronavirus.
On 21 July 2020,the Government announced it is extending the JobKeeper Payment until 28March2021 and is targeting support to those businesses who continue to be significantly impacted by the Coronavirus.
- From 28September2020, the JobKeeper Payment will be targeted to businesses that have been most significantly impacted, the payment rates will be stepped-down and two tiers of payment will be introduced.Information about the operation of the JobKeeper Payment is available on the ATO website.
Further changes were announced on 7August2020 to adjust the reference date for determining employee eligibility and make it easier for organisations to qualify for the JobKeeper Payment extension.
From 28September2020, businessesand notforprofits seeking to claim JobKeeper Payments are required to reassess their eligibility for JobKeeper with reference to their actual turnover. The JobKeeper Payment is available to qualifying businesses from 28September2020 until 28March2021.
The ATO is administering the JobKeeper Payment and detailed information and guidance on JobKeeper is available on the ATO website.
Treasury completed a three-month review of the JobKeeper Payment in June2020, informed by the status of the Coronavirus outbreak and the economy.
The review found that the JobKeeper Payment met its initial objectives: to support business and job survival, preserve employment relationships, and provide needed income support. However, it noted that the labour market remains weak, with a continued need for macroeconomic support. An appropriately targeted extension of JobKeeper would continue to provide assistance to the most affected businesses and support recovery.
The Government has considered the findings of the JobKeeper Review and on 21July2020, the Government announced it is extending the JobKeeper Payment until 28March2021 and is targeting support to those organisations who continue to be significantly impacted by the Coronavirus. Theextension of JobKeeperincludes a requirement for businesses to demonstrate an actual decline in turnover, ensuring those businesses most in need are able to access assistance. JobKeeper payments are paid at two tiers, reflecting varied working arrangements.
JobKeeper Payment Rules
The Treasurer has made the rules to give effect to the JobKeeper Payment.