The JobKeeper payment scheme which was originally due to run until 27 September 2020, will continue to be available to eligible businesses until 28 March 2021. The relevant date of employment has also been moved from 1 March to 1 July 2020 to accommodate more workers.
Outlining the payments and procedures for JobKeeper Payments, tax accountant Manpreet Singh said the new announcements will greatly benefit the Victorian businesses and their employees.
“The challenge with the coronavirus pandemic is still ongoing. With the current situation in Victoria, small and medium-sized businesses and their staff are among the worst affected.”
“There is an estimate that over 500,000 additional people from Victoria will now be included in the current subsidy program,” he told SBS Punjabi.
- More financial support for businesses and workers affected by the coronavirus pandemic
- Staff hired until 1 July 2020 will also be eligible for the payments
- Payment amount will be reduced from 28 September 2020
Reflecting on government’s Jobkeeper 2.0 announcement made on 7 August, Mr Singh said the existing criteria has been also been expanded to accommodate more people.
“Under the new changes, staff employed as of July 1 will now be eligible for Jobseeker payments. Previously, employees only qualified if they were employed as of March 1,” he said.
Mr Singh advised that individuals and businesses applying for this scheme must check their eligibility before applying for these payments.
“First of all, they should check if they’re eligible and then they need to advise their working hours for a given pay period,” he said.
The JobKeeper scheme will now continue to be available to eligible businesses until 28 March 2021.
The payment rate of $1,500 per fortnight for eligible employees and business participants will be reduced to $1,200 per fortnight from 28 September 2020 and to $1,000 per fortnight from 4 January 2021.
Mr Singh said that from September 2020, the participants will be required to demonstrate if they’ve suffered an ongoing decline in turnover while using the actual GST turnover rather than its projected values.
In addition to the JobKeeper and JobSeeker details, he also explained various business support grants that can be availed through the Victorian government’s business support packages.
“Briefly, the government’s expansion program provides $10,000 grant for eligible businesses in metropolitan Melbourne and Mitchell Shire and $5,000 for the businesses in regional Victoria,” he said.
Disclaimer: This content is for general information purposes only, and should not be used as a substitute for consultation with professional advisors.
For more details click on the player above to listen to an interview with Mr Singh.Residents in metropolitan Melbourne are subject to stay-at-home orders and can only leave home for food and essential supplies, work, study, exercise or care responsibilities. People are also advised to wear masks in public.
People in Australia must stay at least 1.5 metres away from others. Check your state’s restrictions on gathering limits.
If you are experiencing cold or flu symptoms, stay home and arrange a test by calling your doctor or contact the Coronavirus Health Information Hotline on 1800 020 080.
News and information is available in 63 languages at sbs.com.au/coronavirus