JobKeeper Extension & Payroll
Originally slated to finish with the end of September, the Federal scheme JobKeeper, has been extended for a further six months in a bid to provide more economic support for Australian’s keeping them employed. The extension is being rolled out in two stages. Extension One goes from the 28th of September 2020 through to the 3rd of January 2021 (28/09/20 – 03/01/21) and Extension Two commences on the 4th of January 2021 and finishes on the 28th of March 2021 (04/01/21 – 28/03/21).
As part of the extensions, the scheme has been split into two tiers. Tier one is applicable for employees who worked for 80 or more hours in the four weeks of pay periods before either 1st March 2020 or 1st July 2020. Tier two applies to any other eligible employee.
Payment rates for each tier can be read about at ato.gov/au/general/JobKeeper-Payment.
In addition to the two tiered extension, JobKeeper is open to new participants, provided that they match the eligibility criteria for the relevant period – new permanent staff, or long term casuals who have been employed for 12 months.
Payroll has been updated to keep inline with these changes, and the update is available for all it’s current users.
If you have questions about JobKeeper, please speak to your accountant. You can read more about it on on Business.gov.au.
Links in article were accessed on the 2nd October 2020.
Read more on the ATO website:
https://www.ato.gov.au/General/JobKeeper-Payment/JobKeeper-extension-announcement/
Read more on the Small Business Development Corporation blog:
https://www.smallbusiness.wa.gov.au/blog/jobkeeper-and-jobseeker-new-phase-details
See a summary pdf available from ATO website:
https://www.ato.gov.au/uploadedFiles/Content/CR/downloads/Extension-of-the-JobKeeper-Payment-factsheet.pdf
Payment rates for Tier One and Two:
https://www.ato.gov.au/General/JobKeeper-Payment/Payment-rates/
Update: Inline links removed due to the ending of JobKeeper in March 2022.