loader image

Home > Blog > COVID19 Stimulus 2021 Update: the latest on what you need to know

COVID19 Stimulus 2021 Update: the latest on what you need to know

Date: 1 February 2021

JobKeeper extension 2  

https://www.ato.gov.au/general/jobkeeper-payment/

Period: From 4 January 2021 to 28 March 2021

Eligibility: Must meet actual decline in turnover test for December 2020 quarter (30% reduction relative to December 2019 quarter) as well as satisfying original decline in turnover test.

Exceptions

  • If you were already receiving JobKeeper prior to 28 September you have already satisfied original decline in turnover test.
  • If enrolling for first time, you will need to satisfy both original and actual decline in turnover tests to be eligible.

In summary, you may be eligible for JobKeeper extension 2 even if you were not eligible for extension 1.

Rates

  • Tier 1 (T1): $1,000 per fortnight (before tax)
  • Tier 2 (T2): $650 per fortnight (before tax)

You need to:

  • Determine if Tier 1 or 2 rate applies to each eligible employee and/or eligible business participant.
  • Notify ATO what rate applies to all eligible recipients.
  • Ensure eligible employees are paid at least $1,000 per fortnight if T1 or $650 per fortnight if under T2.

What doesn’t change:

  • If you have already enrolled in JobKeeper before 28 September you don’t need to re-enrol for the extension.
  • You don’t need to reassess employee eligibility if you were already claiming before 28 September

JobMaker Hiring Credit

https://www.ato.gov.au/General/New-legislation/The-Australian-Government-s-economic-response-to-coronavirus/JobMaker-Hiring-Credit/

What does it mean? You can potentially receive payments for new eligible employees you hire between 7 October 2020 and 6 October 2021.

Eligible Employers:

  • Will be able to register for JobMaker Hiring Credit from 6 December 2020
  • Can claim payments in arrears from 1 February 2021
  • Can claim up to 12 months of payments for each additional eligible employee from their start date
  • Cannot claim JobKeeper and JobMaker at the same time

Eligible employees:

  • Must be ages 16 – 35 years
  • Start employment on or after 7 October 2020 and before 7 October 2021
  • Must increase total employee head count and payroll
  • Worked an average of 20 hours per week during JobMaker period
  • Have received one of the following payments for at least 2 fortnights in the 6 fortnights prior to employment: JobSeeker, Parenting Payment, and Youth Allowance (unless they were undertaking full time study or apprenticeship)

Where to start:

  • Check that your business is eligible
  • Check that new employees are eligible
  • Register using ATO online services

Know More

EOI – Payday Super Workshops

EOI – Payday Super Workshops

Our Payday Super workshops have been well received across our Glen Innes and Tamworth offices, and the responses have been extremely positive. Sessions have been well attended, with clients leaving feeling more informed, confident, and prepared for the changes ahead....

read more
Armidale Keynote Event – Leading on the Edge

Armidale Keynote Event – Leading on the Edge

Last week, we were proud to host the Leading on the Edge Keynote Event in Armidale as part of R+M’s 75‑year celebrations. Held at the Armidale Ex‑Services Memorial Club, the event brought together clients and business leaders from across the New England North West....

read more
Payday Super Reforms

Payday Super Reforms

Payday super reforms (Australia) commence 1 July 2026. Employers will need to pay Super Guarantee (SG) contributions at the same time as wages, rather than quarterly. What’s changing • Super must be paid on payday: employers must pay SG at the same time as wages...

read more