JOB KEEPER EXTENSION TO 28TH MARCH 2021

We have good news that Job Keeper will be extended from 28th September 2020 to 28th March 2021 as the latest update from ATO.


How can you be eligible for Job Keeper extension?

In order to be eligible for the first Job Keeper Payment extension period of 28 September 2020 to 3 January 2021, you will need to demonstrate that your actual GST turnover has significantly fallen in the both the June quarter 2020 (April, May and June 2020) and the September quarter 2020 (July, August, September 2020) relative to comparable periods (generally the corresponding quarters in 2019).

In order to be eligible for the second Job Keeper Payment extension period of 4 January 2021 to 28 March 2021, you will again need to demonstrate that your actual GST turnover has significantly fallen in each of the June, September and December 2020 quarters relative to comparable periods (generally the corresponding quarters in 2019).


To be eligible for Job Keeper Payments under the extension, you will still need to demonstrate that you have experienced a decline in turnover of:

• 50 per cent for those with an aggregated turnover of more than $1 billion;

30 per cent for those with an aggregated turnover of $1 billion or less.


The Job Keeper Payment rate is to be reduced and paid at two rates:

1. From 28 September 2020 to 3 January 2021, the payment rate will be $1,200 per fortnight for all eligible employees or business participants who, in the four weeks before 1 March 2020, were working for more than 20 hours per week and $750 per fortnight for employees or business participants who were working for less than 20 hours a week in the same period.

2. From 4 January 2021 to 28 March 2021 , the payment rate will be $1,000 per fortnight for all eligible employees or business participants who, in the four weeks before 1 March 2020, were working for more than 20 hours per week and $650 per fortnight for employees or business participants who were working for less than 20 hours a week in the same period.


MORE INFORMATION:

For more detailed information, please go to: https://treasury.gov.au/

Feel free to contact us at office@gordondu-associates.com.au or (08)9345 9499

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