JobKeeper extension 2 – are you eligible?

Some rules have changed, so you may be elibible for JobKeeper extension 2, even if you weren’t eligible for extension 1. If you are eligible, you have until the end of the program to enrol for the second JobKeeper extension.

To be eligible, you need to show that your actual GST turnover declined in the December 2020 quarter, relative to a ‘comparable period’ which is generally the December 2019 quarter.

The rates of pay for those who are eligible are:

Tier 1 - $1000 per fortnight before tax – for those that worked 80 hours or more in the relevant time period.

Tier 2 - $650 per fortnight before tax – for those that worked less than 80 hours in the relevant time period.

The ATO has extended reporting dates for December and January, with the December business monthly declaration now due by 28^th January 2021. For JobKeeper fortnights 21 and 22, you now have until 31^st January 2021 to meet the wage condition for any eligible employees.

Call in at your local TaxAssist Accountants for help and advice with any of the above.

Date published 29 Jan 2021

This article is intended to inform rather than advise and is based on legislation and practice at the time. Taxpayer’s circumstances do vary and if you feel that the information provided is beneficial it is important that you contact us before implementation. If you take, or do not take action as a result of reading this article, before receiving our written endorsement, we will accept no responsibility for any financial loss incurred.