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JobKeeper Payment Scheme is Extended into Two Periods

November, 02, 2020

Outline of the JobKeeper 2 extension.

The JobKeeper Payment scheme has been extended and is given two extension periods. Extension 1 is from September 28, 2020 to January 3 2020, while Extension 2 is from January 4, 2021 to March 28, 2021. Each extension period has different payment rates and an additional actual decline in turnover test applies.

The rates of payment of each extension period will depend on the hours of:

  • An eligible employee works
  • An eligible business participant is actively engaged in the business

There will be two separate rates:

Tier 1 is for:

  • eligible employees who worked for 80 hours or more in the four weeks of pay periods before either 1 March 2020 or 1 July 2020, and
  • eligible business participants who were actively engaged in the business for 80 hours or more in February and provide a declaration to that effect.

Tier 2 is for:

  • any other eligible employees and eligible business participants.

Employers and businesses will need to nominate the rate they are claiming for each eligible employee and/or eligible business participant.

 


JobKeeper Extension 1

This extension period will run from September 28, 2020 to January 3, 2021.

The rate of payment for this extension period are:

  • Tier 1: $1,200 per fortnight (before tax)
  • Tier 2: $750 per fortnight (before tax).

You will need to show that your actual GST turnover has declined in the September 2020 quarter relative to a comparable period (generally the corresponding quarter in 2019).

 


JobKeeper Extension 2

This extension period will run from January 4, 2021 to March 28, 2021.

The rate of payment for this extension period are:

  • Tier 1: $1,000 per fortnight (before tax)
  • Tier 2: $650 per fortnight (before tax).

You will need to show that your actual GST turnover has declined in the December 2020 quarter relative to a comparable period (generally the corresponding quarter in 2019).

You can be eligible for JobKeeper extension 2 even if you were not eligible for JobKeeper extension 1.

If you’re looking for more ways for your business to survive during this crisis, contact our team at Premier Professional Partners in Melbourne on 03 9347 8033 or alternatively you can email us at admin@ppartner.com.au

Click here to read more about the JobKeeper extension.

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