The Morrison Government has announced a $15.6 billion expansion of the JobKeeper program to help more businesses qualify for JobKeeper.
Key adjustments include:
As a result, businesses that are able to demonstrate a significant decline in turnover in the September 2020 quarter will be able to access the JobKeeper extension in the December quarter. An organisation able to demonstrate the requisite decline in turnover in the December 2020 quarter would be able to access the JobKeeper extension in the March 2021 quarter.
The combined effect of the economic deterioration in Victoria which will see more firms needing to rely on JobKeeper and the eligibility changes being made to the program will see the cost of JobKeeper increase by around $15.6 billion in 2020-21.
It is now expected that around 4 million Australians will be benefiting from JobKeeper Payments at the end of the September quarter, falling to around 2.24 million in the December quarter and 1.75 million in the March 2021 quarter.
This additional cost to the program will see the total cost of JobKeeper increase to $101.3 billion.
Prime Minister Scott Morrison said the Government was doing whatever it took to save lives and save livelihoods.
“Australia is facing a situation that is constantly changing. Our response is to get the right support to all those Australian families, workers and businesses that need us, as these circumstances change,” the Prime Minister said.
“This means more support for more workers and more businesses for longer, as we battle this latest Victorian wave.”
Member for Barker Tony Pasin said that the economic effects of the second wave in Victoria would reverberate throughout the Australian economy.
“The JobKeeper extension will help keep more businesses in business and Australians in jobs through this incredibly challenging period, the Government will ease the eligibility criteria to make it easier for businesses to qualify for JobKeeper.” Mr Pasin said.
“Every arm of government is working to keep Australians in jobs and businesses in business”
“Our Government will continue to do what it takes to cushion the blow and help Australians get to the other side of the coronavirus crisis, Mr Pasin said.
Media contact: Charlotte Edmunds 8531 2466