July 21, 2020
Prime Minister Scott Morrison announced on Tuesday the JobKeeper program and the Coronavirus Supplement have been extended past September, but the amounts to be paid will drop.
JobKeeper will continue at its current level until September 27. It will then be extended for a further six months to March 28, 2021, under a two-tiered arrangement at lower levels.
From September 28 until January 3, payments will be either $1200 or $750 per fortnight; the lower amount is for employees who worked less than 20 hours a week in the month of February pre-COVID-19.
From January 4 to March 28, the two payments will be decreased to $1000 and $650 respectively.
Businesses with a turnover of up to $1 billion will again be required to show a 30 per cent drop in income to be eligible to receive the payments.
They have to meet the decline in both the previous quarters to be eligible for the JobKeeper payment from October, and in each of the previous three quarters, ending on December 31, to remain eligible for the wage subsidies until March.
The temporary Coronavirus Supplement for people on income support will be extended until December 31, but at a lower rate after September 24.
From September 25 until December 31, the $550 supplement will drop to $250 per fortnight when the government will reassess the economic situation.
However, the Prime Minister told media the Federal Government anticipates there would “need to be some continuation of the COVID supplement post-December”.
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