The Government announced yesterday (30/3/20) a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus.
Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their employer.
The payment ensures eligible employers remain connected to their workforce and will help businesses restart quickly when the crisis is over.
Details are light for the moment, and below are key points and links to fact sheets.
- The business must have been or will be affected by Coronavirus – turnover down more than 30% for at least one month
- Payments will be $750 per week for each eligible employee (as at 1 March 2020), full-time, part-time & casual (>12months) and for up to 6 months
- Paid to the employer (in arrears) who has paid the employee
- Applies to sole traders as well (and presumably partnerships)
- For anyone who qualifies, this may be better than Centrelink (Jobseeker $560 per week).
- Register for updates and intent to claim via ATO’s website here
Under the JobKeeper Payment, businesses significantly impacted by the Coronavirus outbreak will be able to access a subsidy from the Government to continue paying their employees. This assistance will help businesses to keep people in their jobs and re-start when the crisis is over. For employees, this means they can keep their job and earn an income–even if their hours have been cut. The JobKeeper Payment is a temporary scheme open to businesses impacted by the Coronavirus. The JobKeeper Payment will also be available to the self-employed.
If your business has been significantly impacted by the Coronavirus you will be able to access a wages subsidy to continue paying your employees. Under the JobKeeper program, you will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum of six months. This assistance will help you keep staff and will help you restart when the crisis is over.
The JobKeeper payment helps businesses significantly impacted by the Coronavirus cover the costs of their employees’ wages, so more Australians can retain their jobs and continue to earn an income. Your employer will notify you if they intend to claim the fortnightly payment of $1,500 on your behalf.
To register your interest and for updates, please visit the Australian Taxation Office.