07 Aug UPDATE TO THE JOBKEEPER RULES
The Federal Government has today announced changes to the extended JobKeeper rules set to take effect from 28 September 2020 (i.e. after the original JobKeeper period ends).
Here is what you need to know:
The Turnover Test Period
Previously, in order for an employer to receive payments:
1. from 28 September 2020 to 3 January 2021, the decline in turnover test was required to be passed for both the June and September 2020 quarters; and
2. from 4 January to 28 March 2021, the decline in turnover test was required to be passed in each the June, September and December 2020 quarters.
Now, the following will be tested for the decline in turnover:
1. for payments from 28 September 2020 to 3 January 2021, only the September quarter; and
2. for payments from 4 January to 28 March 2021, only the December 2020 quarter.
This means business experiencing a decline in GST turnover will only need to test the one quarter immediately prior to the payment period.
There were no changes to the eligible employee requirements in the previous information released about the extended JobKeeper Scheme. However, now the “employment date” requirement of 1 March 2020 is intended to change to 1 July 2020. This means employees hired prior to 1 July 2020 may be able to be included as eligible employees.
Please note that this article is current at the date of publishing. The formal legislation is yet to be finalised. We will keep you up to date with any further details as they are released.