Wednesday, 30 September 2020
With so many NSW Northern Rivers businesses relying on the JobKeeper wage subsidies to retain staff in the face of loss of trade due to the COVID-19 pandemic the regional economy may decline further now Morrison's JobKeeper cuts start to kick in
The
first federal government
JobKeeper subsidised wage
payments were received by
employers in the first week of May 2020 and
by 21 July 2020 est. 3.5 million Australians were receiving this
payment.
By
22 July 2020 the percentage
of NSW Northern Rivers Businesses relying on JobKeeper
Payments by Local Government Area were:
Byron
60.39%
Tweed
47.79%
Ballina
39.56%
Clarence
Valley 34.52%
Lismore
35.05%
Richmond
Valley 27.45%
Kyogle
21.3%
In
July the JobKeeper subsidised wage was $1,500 (before tax) per
fortnight
The
JobKeeper payment rate is now as follows…...
Australian
Treasury,
Economic
Response to the Coronavirus - Extension of the JobKeeper Payment,
10 August 2020:
The
JobKeeper Payment rate
From
28 September 2020 to 3 January 2021, the JobKeeper Payment rates will
be:
• $1,200
per fortnight for all eligible employees who were working in the
business or notfor-profit for 20 hours or more a week on average in
the four weeks of pay periods before either 1 March 2020 or 1 July
2020, and for eligible business participants who were actively
engaged in the business for 20 hours or more per week on average; and
• $750
per fortnight for other eligible employees and business participants.
From
4 January 2021 to 28 March 2021, the JobKeeper Payment rates will be:
• $1,000
per fortnight for all eligible employees who were working in the
business or notfor-profit for 20 hours or more a week on average in
the four weeks of pay periods before either 1 March 2020 or 1 July
2020, and for business participants who were actively engaged in the
business for 20 hours or more per week on average; and
• $650
per fortnight for other eligible employees and business participants.
Businesses
and not-for-profits will be required to nominate which payment rate
they are claiming for each of their eligible employees (or business
participants).
The
Commissioner of Taxation will have discretion to set out alternative
tests where an employee or business participant’s hours were not
usual during the February and/or June 2020 reference period (the
period with the higher number of hours worked is to be used for
employees with 1 March 2020 eligibility). For example, this will
include where the employee was on leave, volunteering during the
bushfires, or not employed for all or part of February or June 2020.
Guidance
will be provided by the ATO where the employee was paid in non-weekly
or non-fortnightly pay periods and in other circumstances the general
rules do not cover.
The
JobKeeper Payment will continue to be made by the ATO to employers in
arrears.
Employers
will continue to be required to make payments to employees equal to,
or greater than, the amount of the JobKeeper Payment (before tax),
based on the payment rate that applies to each employee. This is
called the wage condition.
By
the end of December 2020 it is possible that only around 1.2 million
people will still be eligible to receive JobKeeper payments under the
new rules and it is possible that up to 2.1 million additional people
will have joined the ranks of the unemployed. With up to
another 1 million without a job by March 2021.
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