Federal parliament has agreed to extend the $100 billion JobKeeper program with changes, meaning people will receive a lower amount from the end of the month.
From September 28, the $1500 fortnightly payment will fall to $1200, followed by another drop in January to $1000 if you were working at least 20 hours per week before JobKeeper was introduced.
For part-time workers, payments will fall to $750 a week this month, then $650 next year.
The extension will expire on March 28.
The Commonwealth estimates that from October, more people will be on JobKeeper in Victoria than in the rest of Australia combined.
Prime Minister Scott Morrison described the scheme as the most significant economic intervention in Australian history.
“We are now extending and transitioning,” Mr Morrison said on Tuesday.
“Transitioning and looking to a day when Australian communities don’t need JobKeeper and when Australians can then run their businesses and hold their jobs sustained by a vibrant and growing economy.”
People receiving JobSeeker payments will also get a decrease on their payments.