The overhaul is designed to help Australians, particularly in Victoria, who are currently facing the loss of up to 400,000 jobs. The update is predicted to help thousands of Victorian businesses qualify for the scheme and 1.5 million Victorian workers access the income support.
It is believed an additional 530,000 Victorian employees will now join the JobKeeper program over the September quarter, taking the state’s total to 1.5 million workers.
The new eligibility criteria and turnover test will apply to all businesses Australia-wide. While the changes will help across the country, $13 million of the $15 million extension is expected to flow into Victoria according to Treasurer, Josh Frydenberg.