Changes to JobKeeper Payment and income reporting
Businesses and charities impacted by the coronavirus crisis can access a wage subsidy, known as JobKeeper, from the Australian Government to help them to continue paying their employees.
The JobKeeper Payment has been extended to March 2021, with changes to payment rates occurring from 28 September 2020. The current payment rate per eligible employee of $1500 per fortnight will change to a two-tier payment rate from 28 September, providing $1200 per fortnight for full-time workers and $750 per fortnight for employees who worked fewer than 20 hours per week. From 4 January 2021, the rate will be $1000 per fortnight and $650 per fortnight respectively.
The JobKeeper Payment will be targeted to employers that have been most significantly impacted. Businesses and not-for-profits seeking to claim JobKeeper will be required to demonstrate they have suffered an ongoing significant decline in turnover using actual GST turnover.
If you are receiving income from your employer as a result of the JobKeeper Payment, and have applied for an income support payment, you must remember to report that income to Services Australia or DVA.
If you do not report the income, you may incur a debt that will need to be paid back.
If you have questions about reporting your income, call DVA on 1800 VETERAN (1800 838 372).