Below is a simple diagram outlining what we know about JobKeeper 2.0 at this stage, explaining it far better than we could!

If that still leaves you wanting more, then have a read of the Treasury fact sheet, which also outlines what we know:

https://treasury.gov.au/sites/default/files/2020-07/Fact_sheet-JobKeeper_Payment_extension_0.pdf:

What we don’t know:

We are certainly left wanting more, and are waiting on Legislation and the Explanatory Memorandum in support of the announcement, before we can take any action, and offer advice.
We have been given no guidance on when this is likely to come, but we will be one of the first to know, and will action with priority.

What happens now?

If you are an existing client in receipt of JobKeeper, we will be in touch as soon as we are positioned to be able to advise you on JobKeeper 2.0. We will develop a plan unique to you, including an initial assessment to advise you on your entitlement status based on the June 2020 quarterly turnover.

We will then use this information to take the necessary action in a timely manner, to ensure we all have a clear plan for what lies ahead for you and your business.

What if I am not on JobKeeper, can I still qualify?

Put simply, yes! If your turnover has been adversely impacted since the initial assessment, then don’t hesitate to get in touch. We have many business’ who have only just qualified for the remaining 3 months of JobKeeper…however time is of the essence to make sure we enrol in time! Email us on clientservices@aspire-ca.com.au if you need support in regards to this.

Tips for moving forward:

We can’t stress enough the importance of having a plan for the future. At a minimum, this should include a 12 month projection of your profit & loss position, and a clear understanding of your break-even position. We understand that great uncertainty lies ahead for many of us, but we need to take as much control as we can, and a plan is a budget is a great place to start!

Please have a read of our latest blog on business planning which talks a little more about this: Aspire Blog – Time to get Planning!

We are here to help, so please don’t hesitate to get in touch!