JobKeeper changes – what they mean for you

JobKeeper payments will be extended by six months to March 28, but the amount of the subsidy will vary under changes announced today. The temporary Coronavirus Supplement for those on income support will be extended until December 31. Prime Minister Scott Morrison said extra assistance would continue to support hundreds of thousands of Australians who were without work, and offer businesses and their workers a lifeline through the COVID-19 crisis. “There is no silver bullet and this is about delivering the support Australians need and the policies our economy requires to reopen, recover and create jobs," he said. “These supports are a lifeline but our JobMaker plan is also setting Australia up for our country’s recovery. We’re delivering the initiatives and reforms that will help grow our economy and create the jobs we need for the years ahead.” What you should know about JobKeeper. The existing JobKeeper Payment will remain in place until September 27.From September 28, it will be targeted to employers that have been most significantly impacted, the payment rates will be stepped-down and two tiers of payment will be introduced. Non-employing businesses will no longer be eligible for the JobKeeper Payment from this date. JobKeeper Payment rates from September 28, 2020 to March 28, 2021: DateFull rate per fortnightLess than 20hrs worked per fortnight rate28 September 2020 to 3 January 2021$1,200$7504 January 2021 to 28 March 2021$1,000$650 From September 28, businesses and not-for-profits will be required to reassess their eligibility by reference to their actual June and September quarter turnovers to demonstrate that they have suffered an ongoing significant decline in turnover. Organisations will need to demonstrate that they have experienced the relevant decline in turnover in both of those quarters to be eligible for the JobKeeper Payment in the December quarter. Employers will need to again reassess their eligibility for the JobKeeper Payment for the March quarter. They will need to demonstrate that they have met the relevant decline in actual turnover in each of the previous three quarters ending on December 31 to remain eligible for the JobKeeper Payment in the March quarter 2021. If they do not meet the turnover test in the extension period this does not affect their eligibility prior to September 28. The continuation of JobKeeper for these businesses will help support the economic recovery and provide them with sufficient time to adjust. The JobKeeper Payment will continue to remain open to new participants that meet the eligibility requirements. More detailed information can be found HERE COVID-19 Supplement The Government says it will extend the payment period of the temporary Coronavirus Supplement for those on income support to December 31 to continue to provide elevated assistance while the economy is still in its early stages of recovery. It will be extended at the rate of $250 per fortnight. Both existing and new income support recipients will continue to be paid the Coronavirus Supplement. From September 25, the assets test and the Liquid Assets Waiting Period will be reintroduced and the JobSeeker Payment partner income test will increase from 25 cents for every dollar of partner income earned over $996 per fortnight to 27 cents for every dollar of partner income earned over $1,165 per fortnight. The Government will also lift the income-free area for JobSeeker Payment and Youth Allowance (Other) from $106 per fortnight to $300 per fortnight and will simplify the taper rate from a dual taper of 50 cents and 60 cents to a single taper of 60 cents. This will mean recipients are more easily able to calculate the value of every dollar they earn. These changes will mean individuals will be able to earn up to $300 per fortnight without foregoing any JobSeeker payment or affecting their eligibility for the Coronavirus Supplement.

JobKeeper changes – what they mean for you

Industry Queensland

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