Treasury have released a fact sheet on the JobKeeper payment which provides useful information for employers about the scheme, it can be accessed at https://treasury.gov.au/coronavirus/resources
30 March 2020
The Prime Minister has announced a historic $130 billion wage subsidy package for around 6 million workers who will receive a flat payment of $1,500 per fortnight through their employer, before tax. The payment will provide the equivalent of around 70 per cent of the national median wage. Read the Prime Minister’s media release here, https://www.pm.gov.au/media/130-billion-jobkeeper-payment-keep-australians-job
The payment will be paid to employers, for up to six months, for each eligible employee that was on their books on 1 March 2020 and is retained or continues to be engaged by that employer. Where a business has stood down employees since 1 March, the payment will help them maintain connection with their employees. Employers will receive a payment of $1,500 per fortnight per eligible employee. Every eligible employee must receive at least $1,500 per fortnight from this business, before tax.
Eligible employers will be those with annual turnover of less than $1 billion who self-assess that have a reduction in revenue of 30 per cent or more, since 1 March 2020 over a minimum one-month period.
Eligible employers include businesses structured through companies, partnerships, trusts and sole traders. Not for profit entities, including charities, will also be eligible.
Eligible businesses can apply for the payment online and are able to register their interest via ato.gov.au
The transcript of the press conference by the Prime Minister and Treasurer on the Jobkeeper payment can be accessed at https://www.pm.gov.au/media/press-conference-australian-parliament-house-act-14
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