Treasury completed a three-month review of the JobKeeper Payment in June 2020, informed by the status of the Coronavirus outbreak and the economy.
The review found that the JobKeeper Payment met its initial objectives: to support business and job survival, preserve employment relationships, and provide needed income support. However, it noted that the labour market remains weak, with a continued need for macroeconomic support. An appropriately targeted extension of JobKeeper would continue to provide assistance to the most affected businesses and support recovery.
The Government has considered the findings of the JobKeeper Review and on 21 July, the Government announced it is extending the JobKeeper Payment until 28 March 2021 and is targeting support to those organisations who continue to be significantly impacted by the Coronavirus. The extension of JobKeeper will include a requirement for businesses to demonstrate an actual decline in turnover, ensuring those businesses most in need are able to access assistance. JobKeeper payments will be paid at two tiers, reflecting varied working arrangements.