The JobKeeper payment is designed to help businesses affected by the Coronavirus to cover the costs of their employee’s wages.
It will help businesses to keep people in their jobs and re-start when the crisis is over.
What you Get
The Government commencing from 30 March 2020 will provide a before tax payment of $1,500 per fortnight per employee as well as self-employed individuals for up to 6 months. These payments will be made in arrears by the ATO commencing in the first week of May and monthly thereafter.
- Most businesses will be eligible for this payment if turnover has reduced by more than 30 percent relative to a comparable period a year ago (of at least one month).
- It applies to all employees that were on the books as at 1 March 2020 and continues to be engaged by the employer; regardless of the employment arrangement.
- An employee must be one of the following; 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.
Only one employer will be eligible to receive payment. The employee will need to notify their primary employer to claim the JobSeeker Payment on their behalf. Typically, this will be the employer for which the tax-free threshold is claimed.
What you need to do
Employers must elect to participate in the scheme. Application the ATO requires information demonstrating a downturn in their business, as well reporting the number of eligible employees (each month).
Payment Process and Examples