Original article by Phillip Coorey
The Australian Financial Review – Page: 1 & 4 : 22-Jul-20
The federal government’s revised JobKeeper wage subsidy scheme is expected to cost $16.6bn over six months. The new tiered JobKeeper scheme will feature two levels of payment based on the number of hours worked, rather than the existing fortnightly payment of $1,500 for all eligible workers. The lower JobKeeper payments will take effect from 28 September and will be further reduced from early January. Treasury has forecast that the number of people receiving JobKeeper will fall from 3.5 million at present to 1.4 million in the December quarter, and just one million in the March quarter.