Radio rejoice! Scott Morrison confirms JobKeeper extension
Prime Minister Scott Morrison has revealed changes to the JobKeeper wage subsidy and confirmed it will continue beyond September, offering some reprieve to media businesses.
As previously reported by Radio Today, it is understood Southern Cross Austereo, Australian Radio Network, NOVA Entertainment, Grant Broadcasters and Ace Radio Network were eligible.
The Government’s JobSeeker payments will also be extended beyond Septemeber.
But both programs will be scaled back and eligibility tightened in an effort to wean businesses off government support as they begin to recover from the pandemic’s economic impact.
The revised wage subsidy will be split into a two-tiered payment after a review of the program, with a lower rate for casuals and part-timers, and will stay in place till the end of March.
The PM announced today (July 21) that payments will fall from $1,500 to $1,200 per fortnight after September and people working fewer than 20 hours each week will receive $750.
The monthly payments will then fall to $1,000 per fortnight and $650 for people working fewer than 20 hours for the first three months of 2021.
It also looks set to be based on a new turnover test, with businesses required to demonstrate an ongoing hit to turnover to qualify for the revised scheme.
More than five million Australians currently receive payments from the JobKeeper and JobSeeker programs, with the JobKeeper subsidy paid to 960,000 employers on behalf of 3.5 million workers.
Businesses have been paid a flat rate of $1,500 each fortnight since the Government established JobKeeper in March this year, at the height of the coronavirus crisis.
More to come.