Jobkeeper extended until 2021. Extension explained

The Federal Government has announced it will extend the JobKeeper wage subsidy scheme beyond the end of the existing JobKeeper scheme on 28 September 2020.  The extension will run up until 28 March 2021. 

The following is a summary of changes to the Jobkeeper scheme, though you can read more detail in this article. 

In regard to JobKeeper payments, under the extension the $1,500 fortnightly JobKeeper payment will reduce to the following:

Eligibility requirement – employees:
Eligible employees will qualify for the maximum rate or the reduced rate based on the hours they worked during the month of February 2020.  Employees who worked an average of 20 hours per week in the month of February 2020 will be eligible for the maximum rate.

Employer eligibility to receive JobKeeper payments from 28 September 2020, businesses will need to meet the basic eligibility tests and an extended decline in turnover test based on actual GST turnover.

Source: Hendersons Financial Planning