JobKeeper 2.0 is here. Is your business ready?

Due to the ongoing impact of Covid, the Australian Government has extended the JobKeeper scheme from 28 September 2020 until 28 March 2021. The extended JobKeeper scheme is comprised of two extension periods: 28 September 2020 to 3 January 2021 (Extension 1) and 4 January 2021 to 28 March 2021 (Extension 2). For each extension period, employers need to satisfy an additional actual decline in turnover test, and the rate of the JobKeeper payment has been reduced and tiered based on hours of work.