On 21 July 2020, the Government announced it is extending the JobKeeper Payment as well as income support payments including JobSeeker.
JobKeeper 2.0 – Extension of the JobKeeper Payment
The Government announced it is extending the JobKeeper Payment until 28 March 2021 and is targeting support to those businesses and not-for-profits who continue to be significantly impacted by the Coronavirus.
The existing JobKeeper Payment will remain in place until 27 September 2020.
From 28 September 2020, the JobKeeper Payment will be targeted to businesses and not-for-profits that have been most significantly impacted, the payment rates will be stepped-down and two tiers of payment will be introduced.
If you currently receive JobKeeper Payment it remains unchanged and available until 27 September 2020. From 28 September 2020, businesses and not-for-profits seeking to claim JobKeeper Payments will be required to reassess their eligibility for the JobKeeper extension with reference to their actual turnover. The JobKeeper extension will be available to qualifying businesses and not-for-profits from 28 September 2020 until 28 March 2021.
Income Support Payments Temporarily Expanded – Including JobSeeker
The Government has temporarily expanded eligibility for income support payments – including JobSeeker Payment.
In addition, the Coronavirus Supplement of $550 per fortnight is available until 24 September 2020. Beyond this date, the Coronavirus Supplement will be available at $250 per fortnight until 31 December 2020.
You will be paid the Coronavirus Supplement if you receive income support under JobSeeker Payment, Youth Allowance , Parenting Payment (Partnered or Single), Austudy, ABSTUDY (Living Allowance), Farm Household Allowance, Special Benefit or Department of Veteran's Affairs Education Scheme, or if you are an Eligible New Enterprise Incentive Scheme participant.
If you are already a registered recipient of JobSeeker Payment or one of the other eligible payments you will automatically receive this non-income tested supplement.
If you have recently lost your job you will need to register for income support and are encouraged to do so online or by phone.
The below newsletters go into more detail about the extensions. If you would like to discuss any of the above further, we encourage you to contact your Byfields accountant.
Click below to download the full newsletters
JobKeeper 2.0
Income Support Payments Including JobSeeker