JobKeeper to continue for eligible businesses until March - Accounts NextGen
The Australian Prime Minister Scott Morrison gave a lifeline to the small businesses by continuing the JobKeeper scheme for the eligible businesses until March 2021. Due to the COVID-19 crisis, this unemployment benefit scheme is extended for six months.
This critical decision came into existence two days before the Treasurer Josh Frydenberg delivered the federal budget. The job keepers can slate better with this extension until March 2021 to better support their business.
However, the tax accountants in Melbourne are of the view that this subsidy scheme will now be established as a two-tier payment mode scheme. This scheme was reframed with some extensions, tightened eligibility, and pay cuts.
What Changes You Will See in This Newly Extended JobKeeper Scheme?
The PM further says that this JobKeeper scheme will effectively target the businesses and maintain their livelihood.
According to tax accountants, Melbourne, the government still pays special attention to the reopening of the economy. However, the extension of this scheme recognises it as an essential part of the business; some parts of the business will still be affected the same as now.