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PKF Australia

Accountants and Business Advisers

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JobKeeper Changes Announced

The Government has announced details of the proposed changes to JobKeeper. This area has seen some of the most confusion from business owners and employers and will continue to become more complex as eligibility and benefits of the scheme continue to change.

The announcement today assures us that there will be no changes until the current end date of 28 September 2020. From that date on, we will begin to see the planned phase out of the scheme.

The Government will also provide a mini-budget on Thursday, 23 July 2020 that will include Treasury forecasts on economic growth, unemployment, deficit and debt ahead of a full budget in October.

Josh Frydenberg, Treasurer of Australia, announced today that the JobKeeper Scheme will run until 28 March 2021 but, that payments will slowly decrease in planned increments over the six-month period from 29 September until 28 March 2021.

Phase one – 29 September 2020 to 4 January 2021

Entities will need to requalify based on the reduced turnover requirements as follows

  • Employer eligibility will be based on actual turnover comparisons rather than projected turnover comparisons
  • Businesses will need to show an actual decline in turnover in the June 2020 and September 2020 quarters (the required 30% drop/50% drop/15% drop is based on the same criteria and thresholds as currently applies)

Payment decrease and number of hours worked taken into consideration

  • 20 Hours or more per week – decrease from $1,500 per fortnight to $1,200 per fortnight
  • Less than 20 hours per week – decrease from $1,500 per fortnight to $750 per fortnight

Phase Two – 4 January 2021 to 28 March 2021

Eligibility changes

  • Businesses will need to show an actual decline in turnover in the June 2020, September 2020 and December 2020 quarters (the required 30% drop/50% drop/15% drop is based on the same criteria and thresholds as currently applies)

Payment decrease

  • 20 Hours or more per week – decrease from $1,200 per fortnight to $1,000 per fortnight
  • Less than 20 hours per week – decrease from $750 per fortnight to $650 per fortnight

The Treasury fact sheet is available here.


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