COVID-19 JobKeeper Payment

30 March 2020

Yesterday the Australian Federal Government delivered a historic wage subsidy to the value of $130 billion, impacting around 6 million workers. The payment will ensure eligible employers (including not-for-profits) and employees stay connected while some businesses move into hibernation.

• This subsidy will see workers receive a flat payment of $1,500 per fortnight through their employer, before tax.
• The payment will be paid to employers, for up to six months, for each eligible employee that was on their books on 1 March 2020 and is retained or continues to be engaged by that employer.
• Where a business has stood down employees since 1 March, the payment will help them maintain connection with their employees.
• Eligible employers will be those with annual turnover of less than $1 billion who self-assess that have a reduction in revenue of 30% or more, since 1 March 2020 over a minimum one-month period.
• Eligible employers include businesses structured through companies, partnerships, trusts and sole traders. Not for profit entities, including charities, will also be eligible.
• The program will commence today, 30 March 2020, with the first payments to be received by eligible businesses in the first week of May as monthly arrears from the ATO.
• To register your interest visit the ATO website here: https://www.ato.gov.au/general/gen/JobKeeper-payment/

Comprehensive fact sheets from Treasury for both employers and employees can be found here: https://treasury.gov.au/coronavirus/jobkeeper

To read more about yesterday’s announcement please click here: https://www.pm.gov.au/media/130-billion-jobkeeper-payment-keep-australians-job