Job Keeper Payment
30 March 2020
Yesterday the government announced a new payment to support business to keep workers employed.
In summary, if the business has a turnover under $1 billion and this turnover has reduced by more than 30% due to the impact of the coronavirus (or 50% if over $1 billion), then each eligible employee will be entitled to a fortnightly payment of $1,500 before tax. The subsidy will commence from the 30/3/20 and be for a maximum of 6 months, with first payments being made in the first week of May.
An eligible employee is:
- Someone who is currently employed by the eligible employer, including those stood down or re-hired,
- Were employed by the employer at 1/3/20
- Are full time, part time, or long term casuals (a long term casual is someone employed on a regular basis for longer than 12 months as at 1/3/20)
- 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; and
- Are not in receipt of a JobKeeper Payment from another employer.
The payment is also available to businesses without employees, such as the self-employed.
To register your business visit:
https://www.ato.gov.au/general/JobKeeper-Payment/
If you have any further questions, please contact us at Mulcahy & Co to assist.
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