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Jobkeeper 2.1
Australain Tax Office Update: If you have had an actual drop in turnover for the Sep 2020 quarter of 30% or more you may be eligible for Jobkeeper 2.1. The main change to businesses eligibility is the prior test was based on the June & September quarters as opposed to only September. Meaning if you have a massive drop in the June quarter and a small drop in September, the average could get you across the line with the 30% requirement. Now with the reduced payment and split rates for each staff member the actual benefit is less than the real cost of the turnover drop for most businesses.
These changes take effect from 28 September 2020
■ The required fall in GST turnover
percentages remains the same
– 30% for an aggregated
turnover of $1 billion or less
– 50% for an aggregated
turnover of more than $1 billion
– 15% for ACNC-registered
charities other than
universities and schools
■ There is now a tier 1 and a tier 2
Jobkeeper rate.
■ Tier 1 rate applies for:
– eligible employees who
worked for 80 hours or more in
the four weeks of pay periods
before either 1 March 2020 or
1 July 2020, and
– eligible business participants
who were actively engaged in
the business for 80 hours or
more in February 2020.
■ Tier 2 rate applies for other eligible
employees and business participants
■ Employers and businesses will need
to nominate the rate they are claiming
for the eligible employees and/or
eligible business participants
