Coronavirus Stimulus – Jobkeeper Payment
The federal government has released the details of the JobKeeper payment!
The purpose is to assist employers who have been affected by the Coronavirus to continue to pay their employees.
The good news is it also extends to the self-employed!
Employers will be able to claim a subsidy of $1,500 per fortnight commencing from 30 March 2020 for a period of six months.
Registrations can be made now at https://www.ato.gov.au/general/gen/JobKeeper-payment/ and successful applicants will be paid from May 2020.
To be eligible, businesses with a turnover of less than $1 billion must be able to demonstrate that their turnover has decreased by a minimum of 30% relative to a comparable period a year ago (or at least one month).
It applies to employees and the conditions are:
- The employee needs to be currently employed (including those stood down or rehired after they have lost their job)
- The employee must be employed as of the 1st March 2020
- The employee are either employed full time, part time or if a long term casual, have been employer by the employer on a regular basis for longer than 12 months
- The employee must be at least 16 years of age and an Australian Citizen or holder of other specific visa classes and
- The employee must not be in receipt of another JobKeeper payment.
The conditions imposed under the scheme are quite detailed and the original application requires the provision of supporting documentation which clearly demonstrates the downturn in their business.
If you have any questions regarding the JobKeeper payment or any government stimulus we ask that you contact CrossCorp today.
