JobKeeper 2.0 Update
August 10, 2020
Government to ease JobKeeper criteria
The new guidelines for the JobKeeper extension will begin on September 28 with more businesses and workers will now qualify for the government payments with these updates.
Treasurer Josh Frydenberg has announced businesses will only need to show that their GST turnover had fallen over one quarter, instead of multiple, to be eligible for the scheme's extension.
Workers will also qualify if they were employed on July 1, rather than March 1.
The initial JobKeeper will finish on September 28, with businesses and employees needing to apply for the extension.
The Government initially outlined the JobKeeper extension guidelines on July 21, but says it needs to extend its criteria after the Victoria Government implemented stricter lockdowns across the state.
Under the previous guidelines, a business needed to record a loss in the June and September quarters.
Mr Frydenberg has blamed the stage 4 restrictions in Melbourne, and the wider restrictions across Victoria, for the Federal Government changing the scheme's extension.
"The combined effect of the economic deterioration in Victoria, which will see more firms needing to rely on JobKeeper, and the changes we are making to the program, will see the cost of JobKeeper increase by around $15.6 billion," he said.
"The introduction of stage 4 restrictions by the Victorian Government will have a severe economic impact on the Victorian and Australian economy."
The changes will also affect businesses who will apply for the second extension of JobKeeper. The second extension will begin on January 4 next year.
Under the previous guidelines, a business would have needed to record an actual GST turnover loss for the June, September and December quarters of this year.
Mr Frydenberg said a business would now need to show a loss for only the December quarter to qualify for the scheme in January.
These guidelines also affect non-profit organisations.
Shadow Treasurer Jim Chalmers said the changes were a "step in the right direction".
"To the extent that they've relaxed some of the eligibility criteria, that's a welcome step. But there are other things which trouble us in the changes that the Government announced," he said.
"And we still remain concerned that a lot of people are still left out of JobKeeper."
Prime Minister Scott Morrison described the revised guidelines as "doing whatever it takes".
"Our response is to get the right support to all those Australian families, workers and businesses that need us, as these circumstances change," Mr Morrison said.
"This means more support for more workers and more businesses for longer, as we battle this latest Victorian wave."
Employee eligibility will also be extended, with a worker qualifying for payments if they have been with their workplace since at least July 1, instead of the March 1 deadline initially slated.
New employees will be eligible for JobKeeper payments dating back to August 3.
If you received an email from us in recent weeks about eligibility under the original JobKeeper 2.0 criteria, the contents may now be incorrect. We will contact all of our clients who are receiving JobKeeper support in coming weeks to update them about ongling eligibility.
Many small business owners report difficulties when it comes to the delay between issuing an invoice and actually getting paid.
Inventory management is critical for any business. It'll help keep enough stock to satisfy customer demand and avoid pitfalls associated with inventory.
Builders report difficulties recruiting or retaining skilled workers. We outline what’s causing the shortages and how you can find those much-needed skilled workers.
Positive cashflow is the beating heart of your business. Read our Plain English guide to cashflow and find out how to get in complete control of your cash position.
At the Federal Budget in May 2026, the Government announced that it would reintroduce a loss carry back tax offset for companies.
Working for yourself or running your own business? Setup robust systems for expenses & tax requirements so you can focus on your important tasks.
From 1 October 2026, businesses will no longer be able to apply a surcharge to card payments on designated eftpos, Mastercard and Visa networks.
Do you know how to track the financial health of your business? We highlight 5 key metrics you should be tracking and managing to keep your finances on course.
Now comes a decision for anyone who uses their car for work: is it better to claim a deduction using the logbook or cents per kilometre method?
Why is good bookkeeping so vital for your financial management? We’ve got some top hacks for maximising your bookkeeping!
