Updated: Jul 28, 2020
The Government is announcing updates to the JobKeeper Payments this week
What we know about JobKeeper 2.0
It is understood that both JobKeeper and JobSeeker payments will continue past September but eligibility rules will be tightened and the rates of payment are to be lowered from then on. We can expect to see the following implemented;
The changes will come into affect as of September where the current JobKeeper payment of $1,500 may be reduced for those who were earning less prior to the pandemic,
It may also be tiered so that part time workers are earning a lower payment than those in full time work
Another wave of income support will be introduced for those who need it.
Finance Minister, Mathias Cormann, said that "Once we get to the end of September it will be a matter of making sure that any ongoing support is appropriately targeted to those businesses who genuinely need it".
The government is set to pare back the program but maintain the subsidies for businesses that can continually prove they're still disrupted by the COVID-19 pandemic. They will also be taking into account what industry the business is trading in. As well as changes to who is eligible for JobKeeper, flexibility arrangements that allow employers to vary workers shift lengths and times may also come to an end.
Most importantly, there will be several months for businesses to adjust to these changes, they will not be implemented after the announcements this week.
Once we receive all of the information about the changes to JobKeeper and JobSeeker and have plough through these changes and considered the ramifications, we will send an email with the updates and be in contact asap if these changes will affect you and your business.