Business and not-for-profits are required to reassess (once more) their eligibility for the JobKeeper payment from 4 January 2021.This final legislated Job Keeper extension period runs from 4 January 2021 to 28 March 2021.
Businesses, with a turnover of > $1 Billion, <$1 Billion and not-for-profits will be required to demonstrate that their actual GST turnover has fallen by 50%, 30% and 15% respectively, based on a comparison of the December 2020 quarter relative to the corresponding quarter in 2019.
The JobKeeper Payment will;
- continue to remain open to new recipients,
- provided they meet the eligibility requirements, and
- the turnover tests that apply during the relevant JobKeeper Payment period.
A new Decline in Turnover form (available through the Business Portal or Online Services) will need to be completed by employers who qualify for the JobKeeper Payment extension.
For employers who are already on JobKeeper, you can complete the business monthly declarations for this extension from 1 February 2021.
New JobKeeper rates for the March 2021 quarter are:
- Tier 1: $1,000 per fortnight (before tax
- Tier 2: $650 per fortnight (before tax)
N.B All payments must be passed through as payments to the relevant employee.
If you need further information, further reading on the scheme can be found below.
If you need further assistance in assessing eligibility as an employer, please do not hesitate to contact our office.