Member Login
This afternoon the Prime Minister and Treasurer have announced a package—the Job Keeper Payment—to support businesses that have been negatively affected by the COVID-19 pandemic to help keep workers employed.
The key points of the Job Keeper Payment include:
- $130 billion package to subsidise employee wages and keep people in jobs.
- The payment will see the Commonwealth pay employers $1500 per fortnight per employee to subsidise wage costs if the employer can demonstrate their business has suffered a reduction in turnover by at least 30 per cent (50 per cent if annual turnover is greater than $1 billion). This amount reflects 70 per cent of median wage.
- The first payments will be made in the first week of May for the period commencing 1 March 2020. Payments will be made by the ATO based on Single-Touch Payroll Reporting data, in arrears for the previous month.
- The payment will capture full-time and part-time employees, as well as casual employees who have been employed for at least 12 months.
- Eligible businesses include companies, partnerships, trusts and sole traders, not-for-profits, and charities.
- It also includes New Zealanders who hold a Subclass 444 visa and other migrants who are eligible to receive JobSeeker Payments or Youth Allowance.
More information on the announcement can be found through the links below.
The ATO has also established a website for employers to register their interest.
