The legislation giving effect to the extension of the JobKeeper scheme to 28 March 2021 was passed by both Houses of Parliament yesterday, replacing the $1,500 a fortnight payment with the new two-tier payment rate from 28 September 2020 (“JobKeeper 2.0”).
Under the new legislation, businesses that qualified for the first round of JobKeeper, but are unable to qualify for JobKeeper 2.0 because they no longer satisfy the 30% decline in turnover test, will still be able to access temporary Fair Work Act provisions for a further six months if they are experiencing a 10% decline in turnover.
These temporary Fair Work Act provisions include being able to reduce employees’ ordinary hours by 40% of the hours they worked before the pandemic struck, and give employees directions in relation to duties and location of work and request employees perform their duties on different days or at different times.
In order to retain access to these provisions the employer must obtain a ‘10% decline in turnover certificate’ from an ‘eligible financial service provider’. The certificate must state that, in the opinion of the eligible financial service provider, the employer satisfied the 10% decline in turnover test for the designated quarter applicable to a specified time.
- a registered company auditor; or
- a registered tax agent, BAS agent or tax (financial) adviser; or
- a qualified accountant.
There is an exception to this requirement for small business employers. A small business employer may choose to have a statutory declaration to the effect that the employer satisfied the 10% decline in turnover test for the designated quarter applicable to a specified time.
The declaration may be made by an individual who either is, or is authorised by, the employer, and who has knowledge of the financial affairs of the employer.
‘Small business employer’ is defined, broadly, as an employer with fewer than 15 employees.
Should you require assistance with respect to any other aspect of JobKeeper 2.0, please do not hesitate to contact our team at Bankruptcy Advisory Centre.
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