The Federal Government has announced additional assistance to employers who have experienced a 30% or more downturn in revenue since 1 March 2020 (businesses with a turnover of less than $1 billion) in the form of a JobKeeper payment to be paid to your employees.
The aim is to keep your employees employed through these difficult economic conditions.
The JobKeeper payment will be paid through the ATO to eligible business at a flat rate of $1,500 per fortnight per employee.
The employer is expected to pass this on in full to their eligible employees, even if their regular fortnightly wage was less than this amount.
PAYG Withholding will need to be withheld from the payment, and remitted to the ATO on your activity statement.
Eligible employers include business who operate through companies, partnerships, trusts, sole traders and not for profit entities.
If eligible, the fortnightly payment will be issued from 1 May 2020 and backdated to 30 March 2020.
Each full-time and part-time employee, including those employees who have been stood down since 1 March 2020, are eligible to receive the payment.
Casual employees who have been with their employer for at least the previous 12 months will also be eligible to receive the payment. Employees can only receive the payment from 1 employer.
The payment will be paid to the employer for up to 6 months.
Each employer must self-assess to determine if they are eligible for this payment for their employees. To register your business’ interest in the payment please click on the link below:
We are expecting more details to come out about this payment and will keep you updated with further information as it comes to hand. In the meantime here is a recording of our webinar on JobKeeper and other useful resources.
Please find below the recording of our recent webinar and a link to the PDF copy of our PowerPoint explaining the COVID-19 Stimulus Packages - JobKeeper, Updates & Live Examples.
Here are answers to specific questions from our webinar today: VIEW HERE
In addition please find links to some useful guides:
Business Australia - Employer Guide to Coronavirus Kathryn MacMillan 923|Recruitment & HR - Temporary Changes to Long Service Leave and Clerks Private Sector Award Australian Business Lawyers & Advisors - COVID-19 Updated Information 26 March 2020