JobKeeper 2.0 Passed with Small Tweak
The second stage of proposed JobKeeper payments has been passed by Senate, extending the governments wage subsidy scheme by 6 months to 28 March 2021.
JobKeeper 2.0 will replace the flat rate of $1,500, which had some employees receiving more than their usual wage, for a two-tiered system.
The subsidy will provide a $750 fortnightly payment for those working under 20 hours’ pre-COVID and $1,200 per fortnight for others.
A second reduction in payment will occur from January 2021 to $650 and $1,000.
The tweak in the original JobKeeper 2.0 legislation relates to legacy employers who have received JobKeeper payments but do not qualify for the second round, and will allow employers to retain industrial relations flexibility measures.
These measures will allow legacy employers to cut hours to a floor of 60 per cent of an employee’s ordinary hours as of 1 March 2020.
To qualify, businesses must hold a certificate issued by an accountant proving a 10 per cent decline in turnover for each quarter. For small employers with fewer than 15 workers, a self-certificate will be accepted with penalties for incorrect certificates.
For more information of the turnover tweak, read our article here.
New rates and eligibility criteria is expected to be issued by the Treasurer shortly.
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Below are some articles that may interest you:
- JobKeeper 2.0 Turnover Tweak
- JobKeeper 2.0: Changes from September
- Your JobKeeper Questions Answered
- Planning for Post Pandemic Recovery
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