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The Real Estate Institute of Australia (REIA) has welcomed the government’s announcement of JobKeeper 2.0 beyond September as the government moves to avoid the September cliff.
The Morrison government has announced it is extending the JobKeeper policy until March 2021 on a reduced rate.
Full-time employees who are eligible for the highest rate of JobKeeper will receive $1,200 a fortnight after September.
Part-time and casual workers on the JobKeeper payments will now be subject to a two-tier approach, meaning if they are working less than 20 hours a week, they will receive the $750 per fortnight payment. For the March quarter next year, that will drop to $650 per week.
Those who have lost their job due to the COVID-19 pandemic will see a reduction in the JobSeeker payment in the coming months.
The elevated Newstart (now JobSeeker) payment will remain at $1,100 a fortnight until 27 September, until it is reduced by $300.
“As the economy is opening up, we made those changes to JobKeeper by reducing it by $300, and we are doing the same with JobSeeker by reducing that payment by $300,” Treasurer Josh Frydenberg told the media.
Australians will be able to earn up to $300 a week before their payments are reduced.
The Real Estate Institute of Australia has welcomed the extension of the JobKeeper and JobSeeker payments beyond September.
“[The] REIA applauded the introduction of the JobKeeper as it kept many employed in the real estate sector. Many of these employees have been engaged in providing the essential service of keeping tenants housed during the pandemic,” said Mr Adrian Kelly, president of the Real Estate Institute of Australia.
“With some 3.3 million properties that are rented or available for rent across Australia, the extension of JobKeeper and JobSeeker will do much to ease the stress and anxiety that many tenants are feeling at this time. Many of these are rented by people who have lost their jobs in industries that will be slow to recover.”
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