Date posted: 7/08/2020 3 min read

JobKeeper 2.0

Treasurer’s announcements on 21 July 2020 and 7 August 2020 for JobKeeper 2.0

In brief

  • JobKeeper continuing: But what’s changing and when?
  • Key ‘road to recovery’ business discussion topics for CA clients
  • Personal balance sheet discussion points for CA clients

For millions of Australians and businesses large and small, the Government’s JobKeeper 2.0 is bigger than the annual Federal Budget.

The nation’s strong balance sheet is literally propping up livelihoods and keeping businesses open. How long can this last? Inevitably, there will be winners and losers when government support is gradually withdrawn. Personal resilience will be tested like never before.

On top of their normal workloads, Chartered Accountants who’ve helped clients gain access to Stage 1 COVID-19 support since March 2020 now need to come to grips with JobKeeper 2.0, adjustments to other stimulus measures and again engage with their clients on the best way forward.

Hard conversations lie ahead.

Tough decisions will be necessary.

The role of trusted, competent and ethical advisers has never been more important.

We also expect Stage 3 measures, perhaps in the Federal Budget (scheduled for 6 October 2020) and early in 2021. 

The impact of COVID-19 on government finances is also likely to trigger changes to the tax system in a bid to shore-up revenue.

JobKeeper 2.0 - Overview of announced changes

The Australian Government has announced cuts to payments under the JobKeeper and JobSeeker schemes but has extended their life spans.

Read more

7 August media release on JobKeeper 2.0

Accountants welcome the change to JobKeeper 2.0 but more needs to be done.

Read more

Top 10 business discussion points on assistance changes

The Australian Government has announced cuts to payments under the JobKeeper and JobSeeker schemes but has extended their life spans. Here are CA ANZ’s suggested discussion points for members.

Read more

Time to think ahead beyond JobKeeper 2.0

The Australian Government has clearly indicated that assistance recipients need to start swimming by themselves against strong economic currents.

Read moreAbout Time to think ahead beyond JobKeeper 2.0

JobKeeper 2.0 media release

Chartered Accountants Australia and New Zealand welcomes the revised JobKeeper package but is calling for the government to arm businesses with expert financial advice to survive the COVID-19 recession.

Read more