On 21 July 2020 the Federal Government announced some modifications to the JobKeeper program (referred to as JobKeeper 2.0), with these changes to commence on 28 September 2020 (you can read more about these changes here).
JobKeeper 2.0 provides for a gradual unwinding of the program, and also extended the end date for approximately 6 months, until March 2021.
We are awaiting the legislative amendments and will provide an update and analysis as soon as we have this detail.
On 23 July 2020, the Minister for Finance, Mathias Cormann and the Treasurer Josh Frydenburg, released the Economic & Fiscal update.
The economic update does not confirm any new tax policy announcements but it does detail the economic impact of the COVID-19 pandemic, as well as highlighting all the financial assistance and support that has been provided since the start of the pandemic and bushfires.
Click here to read the Federal Government’s Budget Update.
If you have any queries or would like some guidance please contact the team at Baskin Clarke Priest.