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JobKeeper 2.0 legislation passed

By Jotham Lian
  • September 01 2020
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Earn

JobKeeper 2.0 legislation passed

By Jotham Lian
September 01 2020

JobKeeper 2.0 legislation has now passed both houses, extending the payment scheme for a further six months.

JobKeeper 2.0 legislation passed

JobKeeper 2.0 legislation passed

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By Jotham Lian
  • September 01 2020
  • Share

JobKeeper 2.0 legislation has now passed both houses, extending the payment scheme for a further six months.

JobKeeper 2.0 legislation passed

The payment scheme will now be in place March 2021 in a bid to support people across the nation at a further cost of $32 billion.

The Coronavirus Economic Response Package (JobKeeper payment) Amendment Bill 2020 was passed by the Senate on Tuesday, 1 September, after minor technical changes were approved. 

The bill extends the historic JobKeeper scheme by a further six months to 28 March 2021, replacing the $1,500 a fortnight payment with a new two-tier payment rate from 28 September 2020.

A legislative instrument setting out the detailed rules for the new rate and the new eligibility criteria based on the decline in turnover for the previous quarter is expected to be issued shortly by Treasurer Josh Frydenberg.

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The new bill will also allow legacy employers – those that previously qualified for JobKeeper but are unable to qualify for JobKeeper 2.0 – to continue to access temporary Fair Work Act provisions for a further six months if they are experiencing a 10 percent decline in turnover.

These temporary Fair Work Act provisions include giving JobKeeper, enabling directions or requests for employees to change their days or times of work.

The minor amendments agreed to now ensure that an eligible financial service provider who is able to issue a 10 per cent decline in turnover certificate is defined as a registered tax agent or BAS agent, or a qualified accountant.

This removes registered company auditors and tax (financial) advisers that were previously included in the definition.

The 10 per cent decline in turnover certificate must confirm, based on the information provided, that the specified employer satisfied the 10 per cent decline in turnover test for the designated quarter applicable to a specified time.

New rate starts from September 28:
  • For employees (and sole traders) who worked 20 hours or more a week on average in the four weeks of pay periods before either 1 March 2020 or 1 July 2020 – $1,200 per fortnight
  • For employees (and sole traders) who worked less than 20 hours a week on average in the four weeks of pay periods before either 1 March 2020 or 1 July 2020 – $750 per fortnight

More to come.

JobKeeper 2.0 legislation passed
JobKeeper 2.0 legislation passed
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