The Morrison Government will deliver more support for households and businesses to help Australians through the COVID-19 pandemic and bolster our economic recovery.
\nThe JobKeeper Payment will be extended by six months to 28 March 2021 and the temporary Coronavirus Supplement for those on income support will be extended until 31 December 2020.
\nPrime Minister Scott Morrison said the extra assistance would continue supporting hundreds of thousands of Australians who are without work, and offer businesses and their workers a lifeline to not only get through this crisis, but recover on the other side.
\n\u201cWe will have Australian\u2019s backs as we face the ongoing impacts of COVID-19,\u201d the Prime Minister said.
\n\u201cThere is no silver bullet and this is about delivering the support Australians need and the policies our economy requires to reopen, recover and create jobs.
\n\u201cThese supports are a lifeline but our JobMaker plan is also setting Australia up for our country\u2019s recovery. We\u2019re delivering the initiatives and reforms that will help grow our economy and create the jobs we need for the years ahead.\u201d
\nTreasurer Josh Frydenberg said the extension of support recognised Australia\u2019s economic recovery was still in its early stages and a number of businesses and individuals remained significantly affected by the global COVID-19 pandemic.
\n\u201cThe Government\u2019s focus remains on reopening the economy where it is safe to do so, but the extension of these measures recognises that some parts of the economy will continue to be affected and need continued support,\u201d the Treasurer said.
\n\u201cSadly, as a result of this global health pandemic, businesses will close and people will lose their jobs, but that is why we have extended the Coronavirus Supplement and announced a new skills package to help people transition from welfare to work.
\n\u201cIt is also why we are extending the JobKeeper Payment beyond September to help keep businesses in business and Australians in jobs as our economy reopens.\u201d
\nMinister for Families and Social Services Anne Ruston said the extension of the Coronavirus supplement would support many Australians who may have found themselves out of work, through no fault of their own.
\n\u201cThe Government has acted decisively to support hundreds of thousands of Australians, many who are receiving income support for the first time,\u201d Minister Ruston said.
\n\u201cWe are extending the Coronavirus Supplement and enhanced eligibility criteria for a further three months to cushion against the economic impact of the pandemic.
\n\u201cWe are also increasing the income free area for JobSeeker Payment and Youth Allowance (other) to $300 a fortnight to encourage and support recipients to take up job opportunities as businesses reopen.\u201d<\/p>\n
The JobKeeper Payment has been instrumental in supporting job retention, maintaining employment links and business cash flow, as well as providing income support to eligible employees.
\nThis extension will provide further support to significantly impacted businesses so more Australians can retain their jobs and continue to earn an income.
\nThe JobKeeper Payment is currently due to finish on 27 September 2020, but will now remain available for eligible employers until 28 March 2021.
\nAs the economy reopens the payment will be tapered in the December and March quarters to encourage businesses to adjust to the new environment, supporting a gradual transition to economic recovery, while ensuring those businesses who most need support continue to receive it. A two-tiered payment will also be introduced from 28 September, to better align the payment with the incomes of employees before the onset of the COVID-19 pandemic. Employees who were employed for less than 20 hours a week on average in the four weekly pay periods ending before 1 March 2020 will receive the lower payment rate.
\nJobKeeper Payment rates from 28 September 2020 to 28 March 2021:<\/strong><\/p>\n