JobKeeper eligibility changes
The introduction of stage four restrictions on metropolitan Melbourne and stage three restrictions on regional Victoria implemented by the Victorian Government will have a significant impact on the lives and livelihoods of millions of Victorians.
The combined effect of the initial stage three restrictions and now the stage four restrictions through the September quarter is estimated to see a $10 to $12 billion or 2½ percentage point contraction from quarterly real GDP growth.
In terms of employment, Treasury estimate that between 250,000 and 400,000 additional people will be effectively unemployed. This will includes people who have lost their job or those working zero hours but still employed.
National unemployment is now expected to exceed the forecast of 9¼ per cent and is now expected to peak closer to 10 per cent.
This a heavy blow to the Australian economy and will not just be felt in Victoria but right across the country.
Under the changes that will apply nation-wide, to be eligible for JobKeeper post 28 September, business and organisations will only have to demonstrate that their actual turnovers have significantly declined in the previous quarter.
- Instead of having to demonstrate a fall in turnover in the June and September quarters to qualify for JobKeeper from 28 September, businesses and organisations will only have to show a fall in the September quarter compared to a comparable period in 2019.
- Instead of having to demonstrate a fall in turnover in the June, September and December quarters to qualify for JobKeeper from 4 January, businesses and organisations will only have to show a fall in the December quarter compared to a comparable period in 2019.
- To allow more employees to access the payment, The Federal Government will allow employees who were on the books from 1 July 2020 to access JobKeeper.
Listen to Ted's interview with Annie Gaffney about the changes HERE: