With payment rates changing as a result of the six-month extension of JobKeeper, until March 28 next year, it’s important for you to know how the changes will impact your employees, and your business.
For JobKeeper fortnights from 28 September 2020, there are two payment rates – a tier 1 (higher) rate and a tier 2 (lower) rate. The rate will be stepped down in two stages. The first payment rate decrease started from JobKeeper fortnight 14 (28 September 2020). A further payment rate decrease starts from JobKeeper fortnight 21 (4 January 2021).
You have until 31 October 2020 to pay your employees for the JobKeeper fortnights starting 28 September. Before you can claim a payment for a JobKeeper fortnight from 28 September 2020, you must notify the ATO whether the Tier 1 or Tier 2 rate applies to each of your eligible employees or eligible business participant.
Make sure that you’re paying your employees according to the right tier, so you’re reimbursed correctly. Find out more about the new payment rates at www.ato.gov.au/General/JobKeeper-Payment/Payment-rates/
We would be pleased to assist with providing you with any JobKeeper related assistance or advice as quickly as possible. If you need help, please contact:
CEO | RBG