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COVID-19 JobKeeper 2.0 turnover test relaxed
As hoped when JobKeeper 2.0 was first announced, the Government has relaxed the turnover test for employer eligibility. It has also announced that the start date for eligible employees will be moved from the current 1st March date to 1st July.
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COVID-19 JobKeeper: Extension announced
In welcome news for many Australian businesses, the Federal Government has announced that its JobKeeper wage subsidy program will be extended into next year for eligible employers.
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Reduced 26% company tax rate starts 1st July
In a little bit of non-COVID news, the company tax rate is set to reduce from 27.5% to 26% on 1st July this year, for 'base rate' entities. This isn't a new measure, but rather is in accordance with the timeline of cascading rate cuts passed by Parliament a few years back.
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