Keeping Australians employed: Government’s JobKeeper Payment
The Federal Government’s $130 billion JobKeeper subsidy is intended to keep Australian employees in work. Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their employer. The subsidy will start on 30 March 2020, with the first payments to be received by employers in the first week of May.
- A flat $1,500 per employee per fortnight payment to eligible businesses
- Payment will come as a credit on a business’s ATO account
- Will last for 6 months
- First payment to businesses in May, however back dated to 30th March
- The Job Keeper payment will be the same $1,500 for all staff; Full-time, Part-time or Casual (regardless of hours)
- Eligible Individuals can only receive one benefit – Job Seeker allowance or Job Keeper payment
- It is important to know there will be anti-avoidance provisions in the legislation.
- Businesses with up to date ATO lodgements. Any arrears owing to ATO in the first instance will be offset by any receipt entitlements.
- Businesses with less than $1billion turnover, and a 30% reduction in revenue in a single month
- Businesses with a turnover of $1billion or more, and over a 50% reduction in revenue in a single month
- Australian Residents, New Zealand Citizens holding a subclass 444 special category visa, and migrants who are eligible for Job Seeker payments
- Self-employed Individuals
- Full-time & Part-time employees as at 1st March 2020 and Regular Casuals who have been employed for more than 1 year as at 1st March 2020.
Eligible employees are employees who:
- are currently employed by the eligible employer (including those stood down or rehired)
- were employed by the employer at 1 March 2020
- are full-time, part-time, or long-term casuals (a casual employed on a regular basis for longer than 12 months as at 1 March 2020)
- are at least 16 years of age
- are 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
- are not in receipt of a JobKeeper Payment from another employer.
Applying for the JobKeeper Payment
If you have already registered your business or if you do not wish us to register your business for you please contact your accounting services director or manager as soon as possible by calling +61 3 9820 6400 or by email directly.
We are here to help. So you can make informed decisions on managing your business through these extraordinary economic circumstances, contact your accounting services director or manager on +61 3 9820 6400.