JobKeeper extended to March 2021

The government has announced an extension to the JobKeeper Program which would extend payments made to businesses from the upcoming end date of 28 September 2020 up to 28 March 2021.

Businesses will need to requalify for the second part of the scheme that begins on 29th September 2020.

While many businesses will benefit from the extension, it also leaves other businesses behind, as the eligibility for the first extension period requires a downturn of 30% or greater, for just the September 2020 quarter (Updated since Video was produced).

Further, the second extension period (January to March 2021) also requires a 30% or greater downturn for the December 2020 quarter

This means that those businesses who experience less than 30% downturn in the September quarter will not qualify for the extension in its entirety even if the business experiences a downturn of 30% or more in the December quarters.