Josh’s Engine Starter
As we begin to analyse the 2020/21 Budget papers, which is close to 1,000 pages, our initial reaction is positive and we are excited that there are stimulus measures for almost everyone.
Personal tax cuts, employment incentives, company and business tax breaks, dwelling and infrastructure incentives, are all designed to ‘kick-start’ the massive Australian economic engine.
Budget Update 2020-21
On 6 October 2020, the Treasurer, Mr Josh Frydenberg, presented the COVID-19 delayed 2020-21 Federal Budget. The Budget was directed at promoting spending, at a personal, business and government level to creating jobs.
JobKeeper Extensions
On 15 September 2020, the Federal Government announced that the JobKeeper scheme would be extended beyond the initial end date of 27 September 2020 to further assist businesses affected by COVID-19.
JobKeeper 2.?
The Federal Government has released yet more JobKeeper Rules changes. The JobKeeper scheme has now been amended 7 times with the 2 most recent changes taking place on 10 August 2020 and 14 August 2020.
Expanded access to JobKeeper
The Federal Government have announced several key changes to the eligibility criteria that will be used to assess the eligibility for the JobKeeper extension.
JobKeeper 2.0 Announcement
Today, the Federal Government announced a six-month extension of the JobKeeper Payment Scheme until 28 March 2021.
The current JobKeeper Payment Scheme will continue to operate as originally legislated until 27 September 2020 with no changes made to the current eligibility for businesses.