Legislation extending JobKeeper arrangements was passed in the Senate yesterday, keeping the stimulus measure in place until March next year.

The level of support will be reduced over the period, giving rise to concerns that some households will face a credit crunch despite the ongoing income support.

From September 28, JobKeeper payments will fall from A$1500 a fortnight to $1200 and then to $1000 a fortnight from January 4 next year.

People working fewer than 20 hours a week will receive lower payments - $750 a fortnight initially and then $650 a fortnight from January 4.

Business eligibility will be based on actual turnover rather than projected turnover.

Canstar finance expert Steve Mickenbecker said: “With JobKeeper and JobSeeker winding back and many mortgage holders nearing the end of repayment pauses with their banks, September will be a testing time.”

The JobSeeker supplement will continue until the end of the year but will fall from $550 a fortnight to $250, which means that people on the program will receive $815 a fortnight from September.