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JobKeeper 2.0 – Eligibility Revealed

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On 21st July the government announced proposed changes to JobKeeper including an extension through to 28 March 2021. These changes do not impact JobKeeper payments until after 28 September 2020.

It has been announced that the current $1,500 per fortnight JobKeeper payment will be reduced to $1,200 per fortnight from 28 September, and $750 per fortnight for eligible employees working less than 20 hours a week for the period 28 September 2020 to 03 January 2021.

From 04 January 2021 to 28 March 2021, the rate will again fall to $1,000 per fortnight, and $650 for people working less than 20 hours a week.

NEW ELIGIBILITY TEST

Businesses will still be required to demonstrate the required reduction in turnover- 30 per cent for businesses with turnovers of $1 billion or less, 50 per cent for those with turnover of more than $1 billion, and 15 per cent for ACNC-registered charities.

The government will now require businesses to demonstrate that they have suffered an ongoing significant decline in turnover using actual GST turnover, rather than projected GST turnover.

From 28 September, businesses will be required to show an actual decline in turnover for both the June 2020 and September 2020 quarters to qualify for JobKeeper 2.0.

From 4 January 2021, businesses will need to reassess their turnover to demonstrate that they have met the decline in turnover test for each of the June 2020, September 2020 and December 2020 quarters.

20 JULY 2020 – CHANGES FOR CHILDCARE PROVIDERS

The rule changes relating to Jobkeeper payments for childcare providers have now been confirmed.

Eligibility for JobKeeper payments have now stopped from 20 July 2020 for:

Employees of an approved provider of child care services where those employees whose ordinary duties are that they are engaged principally in the operation of the child care centre.
Eligible business participants where the business entity is an approved provider of a child care service.

Childcare providers need to ensure that they do not claim JobKeeper payments for employees and eligible business participants who are no longer eligible. You will not be reimbursed for payments made after JobKeeper fortnight 8 (6 July to 19 July).

Please contact our office on 07 5585 0600 if you require any assistance for further advice regarding the application and ongoing reporting requirements for JobKeeper Payments.

Chris Dobbie

Chris Dobbie is the Principal of Gold Coast Accounting Firm, KeyPoint Accounting & Advisors, based on the Gold Coast, Queensland, Australia. Chris is a leading Certified Practicing Accountant (CPA) holding a Bachelor of Commerce (B. Com.), Accounting from Griffith University. Chris has over 22 years of professional accounting and taxation experience. Having stepped his way through this family business to now be Managing Partner, Chris, along with his expert team, look after a diverse client base ranging from medium sized businesses to national/multinational businesses. Chris is truly passionate about improving and growing his company's clients businesses, their lives and lifestyle, with a focus on innovative strategic approaches, and strong communication with clients. View Chris's LinkedIn profile.

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