ECONOMIC STIMULUS UPDATE- 19 AUGUST 2020

ECONOMIC STIMULUS UPDATE- 19 AUGUST 2020

JOBKEEPER

Last Friday, the Treasurer registered a legislative instrument bringing into effect the change that would see staff employed by 1 July now eligible for JobKeeper, an extension from the previous 1 March reference date.

This legislative instrument, if passed, clarifies some pending issues we identified in our last post in respect to JobKeeper, namely:

  1. The new employment date rule will apply to those employers on the current JobKeeper regime (JobKeeper 1.0) and the proposed regime (JobKeeper 2.1).
  2. Employees that:
    • had previously nominated another employer to receive a JobKeeper claim on their behalf, and
    • are no longer employed by the previous employercan now nominate another employer to receive JobKeeper on their behalf subject to points 3 and 4 below.
      This change rectifies the issue from the original legislation which only ever gave an employee the ability to give a nomination to one employer only.
  3. Employers will be given until 31 August 2020 to meet the wage condition for those employees that now qualify under these changes.
  4. More importantly, for those employees that now qualify for the new wage condition, a nomination must be given to the employer by 7 days of the announcement of the legislation. This must be done by Friday 21 August 2020.

Next steps

  1. Identify employees that will qualify for JobKeeper
    Identify each of those employees that may now qualify for the revised employment date of 1 July 2020.
  2. Give those employees a nomination form by the end of this week
    The employee must provide the nomination form by the end of this week. If you need a copy of the nomination form, please contact our office.

Download Employee nomination    Download updated JobKeeper table

If you are interested in learning more please contact either Sam Cimino, Sam Marzano or any team member on (03) 8602 6100.

Please feel free to forward our email onto anyone who might appreciate this information.  Stay tuned for further develops as they occur.