More changes to JobKeeper!
The ‘second wave’ of COVID-19 in Victoria has seen even more changes announced for the federal government’s JobKeeper scheme across Australia.
It’s important to understand the latest changes and how they may affect your business, whether you’re a sole trader or you employ staff.
When will the JobKeeper changes take effect?
The initial JobKeeper arrangements 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?
The JobKeeper 3.0 August announcement relaxes the eligibility requirements that were announced in the JobKeeper update in July. For both the December quarter this year and the March quarter next year, you will now only need to demonstrate a 30% year-on-year quarterly decline in your business turnover for the previous quarter, not for multiple quarters.
Workers also will qualify for JobKeeper if they were employed full-time or on a long-term casual arrangement for more than a year on July 1 this year, rather than the previous March 1 requirement.
The reduced JobKeeper payment rates from October onwards that were announced in the July update will still apply. Currently, JobKeeper recipients are paid $1500 per fortnight. From October through to the end of March, 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!