Changes to JobKeeper
If you run a business and you’ve been taking advantage of the JobKeeper program to help you pay yourself and/or your staff during the economic downturn caused by COVID-19, there are some important changes looming.
It’s important to understand these changes and how they may affect your business.
When will the JobKeeper changes take effect?
The current JobKeeper arrangements that commenced in April this year will continue until the end of September. The new arrangements will be in place until the end of March 2021.
How is the JobKeeper program changing?
From October this year, both the JobKeeper eligibility requirements and payment amounts are changing.
Firstly, for your business to be eligible, you will need to demonstrate that you have recorded an actual 30% year-on-year decline in turnover for both of the following quarters:
April 1 to June 30 (2020 versus the same period in 2019), and
July 1 to 30 September (2020 versus the same period in 2019).
Secondly, JobKeeper payment rates for yourself and your eligible employees (currently a flat rate of $1,500 per fortnight) are dropping. Those who work more than 20 hours per week will receive:
$1,200 per fortnight until 3 January 2021, and
$1,000 per fortnight until 28 March 2021.
Those who work less than 20 hours per week will receive:
$750 per fortnight until 3 January 2021, and
$650 per fortnight until 28 March 2021.
How we can help
At Scorpion Bookkeeping, we can help you to work out your business’ ongoing eligibility for the JobKeeper program. We currently provide bookkeeping support services to a diverse range of clients in South Australia, Victoria and New South Wales.
We can also help you to implement Xero bookkeeping software to help you. We are a Xero-certified partner.
Contact us today for a free, no-obligation consultation to find out how we can help your business!