The Government today announced the future of JobKeeper and JobSeeker along with other income support measures. We’ve created a client update to help with the changes.
We have created the below guides to keep you informed:
– The client update
– The JobKeeper 2.0 Update
– The JobSeeker Update
For JobKeeper, current arrangements will generally remain the same until 27 September 2020. From this date onwards, employers seeking to claim JobKeeper payments will need to reassess their eligibility and prove an actual decline in turnover.
For JobSeeker, there is a winding back of some of the expanded eligibility criteria, along with the reintroduction of means and asset testing, and partner income testing. The amount individuals can earn before impacting on income support has increased to $300 per fortnight from 25 September.
The Coronavirus supplement will continue for those eligible until 31 December but at a reduced rate of $250 per fortnight.
The JobKeeper Payment 3 month review
Prime Minister’s media release
Treasury fact sheet: The JobKeeper extension
Treasury fact sheet: Increased income support
The Government will release the economic update on Thursday.
It’s important to talk to your accountant to make sure you get it right. We are ready to assist, please call us on 03 9836 2900