The Federal Government announced the new JobKeeper payments this week.
Under the JobKeeper payment, businesses impacted by Coronavirus will be able to access a subsidy from the Government to continue paying their employees.
Please find below a summarised details of the payment:
Details of Payment
- Eligible employers will be paid $1,500 per fortnight per eligible employee from 30th March 2020, for a maximum of 6 months;
- Eligible employees will receive from their employers a minimum of $1,500 per fortnight, before tax;
- Employers will pay employees as usual and payments will be made to the employer monthly in arrears by the ATO;
- Payment includes self-employed individuals (i.e. businesses without employees);
- A person receiving the JobKeeper payment cannot also receive the JobSeeker payment (formerly Newstart). People who have already applied for JobSeeker can withdraw and shift to JobKeeper payments if they are re-engaged by their employer. A person cannot be in receipt of JobKeeper payments from two or more employers.
To be eligible for the JobKeeper Payment the following must apply:
- Employer’s turnover must have reduced by more than 30% compared to the same period a year ago (of at least a month);
- Employees must have been employed as at 1stMarch 2020 and be currently engaged (includes employees stood down or re-hired);
- Employees must be full-time, part-time or long term casuals (i.e. employed on a regular basis for longer than 12 months as at 1st March 2020) and over 16 years of age;
- Payments will begin from the 1st May 2020 and be backdated from the 30th March 2020.
Register your interest in applying for the JobKeeper Payment here.
Once registered the ATO will contact you when more information is available.