Recent changes to Jobkeeper / Jobseeker payments
The Government has recently announced changes to the JobKeeper and JobSeeker schemes effective from 28 September 2020.
JobKeeper 2.0
JobKeeper payments have been extended past the end of September until 28 March 2021. There will, however, be changes to rates of payment and business eligibility.
Rates of Payments
From 28 September JobKeeper is going to be split into “two tiers”, one for full-time and one for part-time workers.
From 28 September, the fortnightly payment for full-time workers will decrease from $1,500 to $1,200. This payment will last until the end of the year, then from January 3, 2021 the payment will drop again, from $1,200 to $1,000 a fortnight for full-time workers.
If you were working fewer than 20 hours a week in February this year, or “pre-COVID”, your payment will drop from $1,500 to $750 a fortnight after September, with a further reduction on January 3, 2021, to $650.
Business Eligibility
If you’re a business owner who’s signed up to JobKeeper, the tests of at least a 30 or 50 per cent reduction in turnover depending on your size, or 15 per cent for charities, remains the same, however you will need to reapply the turnover test at the end of September 2020 and then again in January 2021.
On top of that, employers also must prove they’ve experienced the relevant decline in turnover in all previous quarters to receive the payment. For example, if you’re applying for it for the first three months of next year, you need to prove you lost money in the June, September and December quarters.
JobSeeker 2.0
On March 22, the temporary Coronavirus Supplement of $550 a fortnight was introduced. As of September 25, the fortnightly Coronavirus Supplement will drop from $550 to $250 – where it will stay until at least December 31.
Income threshold for JobSeeker recipients will increase from $106 a fortnight to $300, and from $143 a fortnight to $300 for Youth Allowance recipients.
Tapering rates have also been increased.
If you have any queries regarding JobSeeker payments, please contact Centrelink.
Please remember, the team at PJA are here and well equipped to help you with any of your financial concerns during uncertain these times.
