As the COVID-19 pandemic continues to affect businesses right across Australia, the federal government has announced a supplementary update to the JobKeeper initiative.
While the second wave in Victoria remains a national focus, the impact is being felt nation-wide. Treasurer Josh Frydenberg has revealed that while the tapering off of payment amounts will continue, there will be a relaxation of some eligibility criteria that will see more employees and employers entitled to the relief payment.
While JobKeeper has so far only been available to employees who began their relevant employment on or before 1 March, this has been updated to include any employees who began on or before 1 July from 3 August 2020.
The previous update to the JobKeeper program announced that businesses who wished to receive the payment beyond the initial 28 September cut off would need to demonstrate a decline in turnover for both the June and September quarters of 2020 as compared to the previous year.
This has now been updated to only require a drop in turnover for the September quarter.
Furthermore, to be eligible to for the 4 January to 28 March 2021 period, businesses previously had to demonstrate a drop in turnover for both of the preceding periods.
This has been updated to only require a drop in turnover for the three month period until December.
If some or all employees become eligible due to these ammendments, they must complete and return a JobKeeper Nomination Notice
to their employer. For more information about setting up and processing JobKeeper payments with Sybiz Visipay, consult our FAQs
As always, Sybiz will endeavour to provide up to date advice about the JobKeeper program.