What to expect from the JobKeeper payment.
Last night, Scott Morrison unveiled a $130 billion plan to keep Australians in jobs - the JobKeeper wage subsidy. Under the JobKeeper Payment, businesses affected by COVID-19 will be able to access a subsidy from the Government to continue paying their eligible employees. The wage subsidy entails a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months.
JobKeeper payments will begin flowing from early-May, however, payments will be backdated.
The purpose of the JobKeeper scheme is two-fold:
- An economic stimulus measure aimed keep the economy running during the COVID-19 pandemic.
- A means of maintaining connection between an employer and their employees whilst the business is in "hibernation".
Your business may be eligible to receive the JobKeeper Wage Subsidy if you meet the following conditions:
- Your business must have a turnover of less than $1 billion and your turnover will be reduced by more than 30 per cent relative to a comparable period a year ago (of at least a month).
- Employees must have been engaged as at 1st March 2020, and must currently be engaged in order to receive JobKeeper payments.
- Not-for-profit entities (including charities) and self-employed individuals that meet the turnover requirements above are also eligible to apply.
How do I know if my employee is eligible to receive JobKeeper payments?
- Your employee must have been employed on 1 March 2020 and must be currently employed, (including those employees who were stood-down
and re-hired).
- Your employee must be either a full-time, part-time or a "long-term" (employed
for a minimum of 12 months as at 1 March 2020) casual worker.
- Your employee must be at least 16 years of age.
- Your employee must be: an Australian citizen, the holder of a permanent visa, a Protected Special Category Visa Holder, a non-protected Special Category Visa Holder who has been residing continually in Australia for 10 years or more, or a Special Category (Subclass 444) Visa Holder.
- Your employee must not be receiving the JobKeeper payment from
another employer.
Please note that if your employee receives the JobKeeper Payment, this may affect their eligibility for payments from Centrelink as they must report their JobKeeper Payment as income.
How do I apply
Register your interest in applying for the JobKeeper wage subsidy at the link below:
APPLY HERE
The initial expression of interest form asks for the business name, ABN, and contact details. At a later date, there will then be an online application form to complete.
Note that sole traders and those who are self-employed are able to register their interest at the same link.
Where can I find more information?
We suggest reviewing the fact sheet released by the Treasury, at the below-mentioned link:
Fact Sheet
Do you want to ask us a question?