Jobkeeper 2.0

It was recently announced that the JobKeeper Payment Scheme has been extended until 28 March 2021. This month we’re going to take you through the basics of JobKeeper 2.0, so if you’re a small business owner - read on!

What is JobKeeper?

JobKeeper is a subsidy for businesses significantly affected by coronavirus. If this sounds like you, you could be eligible to access the payment. JobKeeper aims to help you to keep paying your staff.

Who is eligible?

Check out the ATO site for all of the details, but basically if you ran a business in Australia on 1 March 2020 and you employed at least 1 eligible employee during the JobKeeper fortnight you are applying for then you may be eligible.

When is JobKeeper changing?

With the extension, some changes have been made to the JobKeeper scheme. These changes will come into effect from 29 September 2020 until March 2021.

What is different?

Here are some of the main differences with JobKeeper 2.0:

  • The JobKeeper payment will be reduced to $1,200 per fortnight for full-time employees.

  • Part-time employees (working less than 20 hours per week) will receive $750 per fortnight.

  • This will be reduced again for January to March 2021: $1,000 per fortnight for full-time employees and $650 per fortnight for part-time employees.

Do I need to reapply for the new JobKeeper scheme?

No, according to the ATO, you don't need to re-enrol for the JobKeeper extension if you are already enrolled for JobKeeper for fortnights before 28 September.

That’s a basic rundown of the new JobKeeper Payment Scheme. For more in depth info, check out the ATO website.