With all the business COVID changes this week – we understand if you’re struggling to keep up! Employers are now having to follow regulatory changes so closely to ensure to keep their businesses compliant.
We’ve summarised two of the recent updates here – being the new JobKeeper extension and the mandatory COVID reporting.
If you’re an aged care provider, also see our blog on paid pandemic leave here.
Following the recent second wave of lockdowns in Victoria, the Government has announced the extension of JobKeeper from the original end date of 27 September 2020, until 28 March 2021.
JobKeeper 2.0 will kick in between 27 September 2020 and 28 March 2021 (extension period) and will look slightly different. We’ve outlined the main changes here for you.
1. The Payment Amount:
The payment for eligible employees is being reduced for the extension period – as outlined below:
|For employees working >20 hours per week||For employees working <20 hours per week|
|Original JobKeeper |
Until 27 Sep 2020
|Extension period 1 |
28 Sep 2020 – 3 Jan 2021
|Extension period 2 |
4 Jan 2021 – 28 Mar 2021
2. Decline in Turnover for Eligibility
The reduction in turnover amount test has remained the same as the initial JobKeeper eligibility, being:
- 30% reduction of turnover (so long as your turnover is less than 1 billion); or
- 15% reduction of turnover if you are a registered charity.
However, the new change is that employers will need to meet the minimum decline in percentage of their turnover in each quarter. The quarterly periods are:
- April – June;
- July – September; and
- October – December.
For more detail on calculating your turnover for your business see the ATO Website.
Mandatory COVID reporting
For the next 12 months, all employers must notify WorkSafe if any of their employees or independent contractors has contracted COVID and has attended work during the infectious period.
The infectious period is the period of 14 days before symptoms or diagnosis – the first of the two. Failing to report cases to WorkSafe can lead to a fine of $39,652 for an individual or $198,264 for a body corporate.
Can we help?
For more information, contact our consultant Elise on 0424 013 551 to answer your COVID business questions.