Key Points:

• JobKeeper 2.0 will now be based on individual quarters
• Eligibility changes will apply nationwide from 28 September 2020
• Businesses will need to show the prerequisite actual decline in turnover for the September 2020 quarter only

Treasurer Josh Frydenberg has today announced the eligibility for JobKeeper 2.0 will now be based on individual quarters.  This change from the previous announcement is due to the Stage 4 restrictions imposed in Melbourne.

The eligibility changes will apply nationwide from 28 September 2020, where a business will need to show the prerequisite actual decline in turnover for the September 2020 quarter only, instead of both the June and September 2020 quarters as previously announced.  Further, from 4 January 2021, a business will only need to show the prerequisite decline in turnover for the December 2020 quarter, rather than each of the 3 quarters of June, September, and December.

Another change will also be the start date of eligible employees.  As of the 3 August 2020, the relevant date of employment will change from 1 March 2020 to 1 July 2020.  This change will apply to the existing scheme and the extended scheme, however, casual employees will still be required to have been employed for a minimum of 12 months.

The proposed reduced rates of $1,200 per fortnight for full time workers and $750 for employees and eligible business participants working less than 20 hours per week, will continue to apply from 28 September 2020.  The further reduced rates of $1,000 per fortnight for full time workers and $650 for employees working less than 20 hours per week will also continue to apply from 4 January 2021.

Semmens & Co. is here to help in assessing businesses with their eligibility and ongoing administration of the scheme. 

If you have any questions or need advice and clarity specific to your situation, feel free to contact Semmens & Co on 03 8320 0320 for a free consultation.