The JobKeeper Payment will be extended by six months to 28 March 2021 and the temporary Coronavirus Supplement for those on income support will be extended until 31 December 2020.
The JobKeeper Payment has been instrumental in supporting job retention, maintaining employment links and business cash flow, as well as providing income support to eligible employees.
This extension will provide further support to significantly impacted businesses so more Australians can retain their jobs and continue to earn an income.
The JobKeeper Payment is currently due to finish on 27 September 2020, but will now remain available for eligible employers until 28 March 2021.
As the economy reopens the payment will be tapered in the December and March quarters to encourage businesses to adjust to the new environment, supporting a gradual transition to economic recovery, while ensuring those businesses who most need support continue to receive it.
A two-tiered payment will also be introduced from 28 September, to better align the payment with the incomes of employees before the onset of the COVID-19 pandemic. Employees who were employed for less than 20 hours a week on average in the four weekly pay periods ending before 1 March 2020 will receive the lower payment rate.
New JobKeeper Payment rates
JobKeeper Payment rates from 28 September 2020 to 28 March 2021: