The Federal Government has announced extensions of the JobKeeper payment to Sunday 28 March 2021 and the temporary Coronavirus Supplement to Thursday 31 December 2020.
The JobKeeper payment will continue to be available to eligible businesses (including the self-employed) and not-for-profits until Sunday 28 March 2021.
From Monday 28 September 2020, eligible employees and business participants working less than 20 hours per week on average will receive the payment at a lower rate.
Average hours per week will be based on the four weekly pay periods ending before Sunday 1 March 2020.
The following payment rates per fortnight (currently $1,500) will apply for eligible employees and business participants.
|Date||Full rate||Lower rate|
|Monday 28 September 2020 to Sunday 3 January 2021||$1,200||$750|
|Monday 4 January 2021 to Sunday 28 March 2021||$1,000||$650|
Employers will be required to nominate the payment rate claimed for each of their eligible employees or business participants.
The ATO will provide guidance on circumstances that are not addressed under the general rules for determining average hours per week. From 28 September 2020, employers will also be required to reassess their eligibility by reference to their actual June and September quarter turnovers.
Employers will be required to reassess their eligibility again for the March 2021 quarter.
An entity’s eligibility prior to 28 September 2020 will not be affected if the additional turnover tests for the extension period are not met. The new arrangements for the JobKeeper Payment are expected to cost an additional $16.6b. An independent evaluation will be conducted at the conclusion of the program, as recommended under the Treasury’s JobKeeper Payment review.