The ATO confirmed yesterday that the JobKeeper Payment has been extended until 28 March 2021, with upcoming changes to payment rates based on total hours worked during a reference period.
It will be available for eligible businesses with some key changes:
You must demonstrate a decline in actual GST turnover relative to a comparable period.
JobKeeper payment rates for employees will be based on the total hours worked during their reference period.
If you are already receiving JobKeeper payments for your employees, continue paying all eligible employees $1,500 per fortnight (before tax) up to and including JobKeeper Fortnight 13 (commencing 14 September).
New JobKeeper rates
There will be two tiers for JobKeeper payment rates:
From 28 September 2020 to 3 January 2021
Tier 1 – $1,200 per fortnight
Tier 2 – $750 per fortnight.
From 4 January to 28 March 2021
Tier 1 – $1,000 per fortnight
Tier 2 – $650 per fortnight.
Note: These rates are before tax.
You will need to nominate the rate you are claiming for each of your eligible employees. Ensure you pay your eligible employees the right amounts, to be reimbursed when you make your monthly business declarations.
You can check out more details at the ATO website.