From 4 January 2021, businesses and not-for-profits should reassess their turnover to be eligible for the JobKeeper Payment.
To be eligible, businesses and not-for-profits will be required to demonstrate that their actual GST turnover has significantly fallen (using the relevant existing decline in turnover tests) in 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.
Eligible employers will need to complete a new Decline in Turnover form (available through the Business Portal or Online Services) to determine whether they are eligible to participate in the second JobKeeper Payment extension period.
Existing eligible employers must complete the new Decline in Turnover form before they can complete their business monthly declarations from 1 February 2021.
Employers that are new to JobKeeper, and would like to claim for fortnights ending 17 and 31 January, must enrol and submit the Decline in Turnover form by 31 January 2021.
The rates of the JobKeeper Payment in this extension period are:
- Tier 1: $1,000 per fortnight (before tax)
- Tier 2: $650 per fortnight (before tax)
Broadly, the JobKeeper Payment eligibility rules are summarised below:
The rules and other guidance are summarised on the Treasury Website which can be accessed via the following links:
We will continue to keep you updated with further information as it becomes available.
This update was co-authored by Katherine Lloyd, HLB Mann Judd Sydney.