JobKeeper Payment
What is it?
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.
Who is an Eligible Employer?
- Businesses annual turnover of less than $1 Billion and a reduction in revenue of 30% or more since 1 March 2020
- Businesses annual turnover of $1 Billion or more and a reduction in revenue of 50% or more
- Include businesses structured through companies, partnerships, trusts and sole traders. Including Non for profit entities including charities
Who is an Eligible Employee?
- Full time and part time employees and self-employed individuals
- Includes employees that have been stood down since 1 March 2020
- Casual employees that have been with a company for at least the previous 12 months
- Australian residents, New Zealand citizens on a subclass 444 special category visa and migrants eligible for youth Allowance, Jobseeker or other payments.
- Only eligible to receive the payment from ONE employer
How to apply and distribute payments:
- Eligible businesses need to register their interest via ato.gov.au
- Payments will be paid to employers for up to six months for each eligible employee on their books on 1 March 2020 and is retained or continues to be engaged by that employer
- Commences today 30 March 2020
- Eligible business should begin distributing the Jobkeeper payment immediately to their eligible employees (don’t forget to withhold tax)
- Business will be reimbursed by the ATO with first payment distributed in the first week of May
If you have any queries please don’t hestiate to reach out to us.