Blog

JobKeeper 2.0 – Eligibility Revealed

Please share on social media:

Blog

KEY POINTS

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.

Kelsie Bunt

Kelsie Bunt

Kelsie is our amazing client services co-ordinator and keeps more wheels turning in our company than anyone really knows! It's even in her Position Description to keep the boss Chris under control!

About Keypoint Accountants: Innovative Gold Coast Accounting for Your Business

WE’RE ABOUT YOUR BUSINESS TRANSFORMATION: Our goal is to transform YOUR business with better strategic action. Our team delivers excellence in Accounting and practical strategic advice helping you to grow your business exponentially. We guarantee results.

ENABLING THRIVING BUSINESSES: We have helped thousands of businesses locally and nationally for over 50 years! The Keypoint specialist team has forged a reputation for helping transform businesses from conception to succession.

WE MOVE YOU: Our integrated services – Strategic Action, Accounting and Financial Health checks have been created to move your business in line with your vision:

  • decades of experience and industry knowledge, 
  • maximising growth opportunities.  
  • using the latest in technology to streamline financial processes  
  • freeing up your time to do what you do best! 
  • better financial strategies for better profits.

Leave a Reply

About Keypoint

Innovative Gold Coast Accounting & Advisory For business on the move

Keypoint accountants varsity lakes large logo red and black trans

Recent Posts

Follow Us

Videos

Contact Us

Sign up for our Newsletter

Click edit button to change this text. Lorem ipsum dolor sit amet, consectetur adipiscing elit

ELEVATE YOUR BUSINESS WITH

KP Business Tools

Start your business growth today with Keypoint Accountants.