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Federal government extends JobKeeper, cuts rate

The federal government has revealed changes to its JobKeeper wage subsidy scheme, with the program to be extended beyond its original September end-date—albeit at a lower rate.

From 28 September, JobKeeper payments will decrease from $1500 a fortnight to $1200 a fortnight for full-time workers (more than 20 hours per week) and $750 a fortnight for part-time workers.

From 4 January, the payment for full-time workers will drop to $1000 a fortnight and the payment for part-time workers will drop to $650 a fortnight.

For businesses to be eligible for the payments beyond 28 September, they’ll have to prove their GST turnover for the June and September quarters is down at least 30% on comparable pre-Covid quarters.

Under the scheme at present, the Australian Tax Office pays affected businesses $1500 a fortnight to subsidise the wage of each worker employed as of 1 March, with businesses required to pay at least that amount to workers. The payment is available for full- and part-time workers, as well as sole traders and casuals who have been with an employer for 12 months or more.


Category: Local news