Last week the government provided an update regarding the extension to the JobKeeper subsidy for the 2 quarters starting 28 September 2020 – 3 January 2021 and 4 January 2021 – 28 March 2021.
There has been a further update to this which has set new criteria for employees to be eligible for the extension under the JobKeeper subsidy. It is possible that employees who were not eligible previously will now be covered by the scheme.
- Currently employed by an eligible employer.
- At 1st July 2020 – were a full time, part time or fixed term employee, or a long term casual employee (regular and systematic basis for at least 12 months) of the company.
Subsidy rates have been decreased from the flat $1,500 per fortnight and are now subject to an assessment of the hours worked by the employees during set periods.
Employers will need to determine the average hours worked per week by employees in the 4 week pay period prior to either 1 March 2020 or 1 July 2020. The cut off is 20 hours or more per week for the different payment amounts.
From 28 September – 3 January the payments will be as follows;
- $1,200 per fortnight for eligible employees if they worked an average of 20 hours or more per week during the 4 weeks of pay period prior to either 1 March 2020 or 1 July 2020.
- A payment of $750 will apply to other employees.
From 4 January – 28 March 2021 the payments will be as follows;
- $1,000 per fortnight for employees that worked an average of 20 hours or more per week during the 4 weeks of pay period prior to either 1 March 2020 or 1 July 2020.
- $650 per fortnight for other employees.
- To be eligible for the extension in the subsidy, organisations will still need to show decreases in revenue in the previous quarter (relative to corresponding quarter in previous financial year).
- Up-to-date BAS reporting will be the basis for eligibility.
- Companies with revenue over $1 Billion – need to have 50% decrease.
- Companies with revenue less than $1 Billion – need to have 30% decrease.
- Not for profit and charities need to have 15% decrease.