The second tranche of the JobKeeper scheme changes the eligibility test for employers and the amounts paid to employees.
UAC accountant and Business Service Member WLM Financial has prepared information on what the new scheme looks like.
If your business currently receives JobKeeper, arrangements will remain unchanged until 27 September 2020. After that date, employers seeking to claim JobKeeper payments need to reassess their eligibility and prove an actual decline in turnover.
Eligibility will be determined by assessing against quarterly GST turnover amounts in 2020. Most businesses will use their business activity statement reports to assess eligibility.
The payments for eligible employees will reduce initially for the period of 28 September 2020 to 3 January 2021 and reduce further for the period 4 January 2021 to 28 March 2021. There will be separate reduction amounts for those working regular hours and those working fewer than 20 hours a week.
You can read more from WLM Financial on how JobKeeper 2.0 will operate here and more from the Australian Treasury here.
