JobKeeper Payment
The Australian Government announced yesterday a wage subsidy for businesses effected by the Covid-19 virus pandemic. There are links to the relevant treasury fact sheets which provide more detailed information.
JobKeeper Payment
- $1500 per fortnight wage subsidy for each employee employed at 1 March 2020 and still employed by the business for up to 6 months
- Applies to full time, part time and casuals with 12 months service
- Payments made by ATO to start from first week in May and will be monthly in arrears to employers
- If employee wage is less than jobkeeper payment employer must pass on full amount to employee
- If employee wage is more than jobkeeper payment employer continues to pay normal wage
- To be eligible employers must have (or expect to have) a 30% reduction in turnover compared to a comparable period a year ago
- Sole traders are eligible
- Need to register with the ATO https://www.ato.gov.au/general/gen/JobKeeper-payment/
- Fact Sheet – General Information
- Fact Sheet – Employer Information
- Fact Sheet – Employee Information