Federal Government Job Keeper Announcement
The Federal Government has just announced a $130billion Job Keeper subsidy to keep employees in work.
- A flat $1,500 per employee per fortnight payment to eligible businesses
- Payment will come as a Credit on a business’s ATO account
- Will last for 6 months
- First payment to businesses in May, however back dated to today, 30th March.
- Businesses with less than $1billion turnover, and a 30% reduction in revenue in a single month
- Businesses with a turnover of $1billion or more, and over a 50% reduction in revenue in a single month
- Australian Residents, New Zealand Citizens holding a subclass 444 special category visa, and migrants who are eligible for Job Seeker payments
- Self-employed Individuals
- Must register with the ATO here
- Full-time & Part-time employees as at 1st March 2020 and Regular Casuals who have been employed for more than 1 year as at 1st March 2020.
The Job Keeper payment will be the same $1,500 for all staff; Full-time, Part-time or Casual (regardless of hours).
Eligible Individuals can only receive one benefit – Job Seeker allowance or Job Keeper payment.
The Government is hoping businesses will top up wages where possible for employees.
The Treasurer stated that businesses who have already made staff redundant (after 1st March), may choose to undo the redundancy and keep an employee working on the Job Keeper payment. However, businesses will need to work with the employee with regards to the pay out of accrued leave in the redundancy.
The Job Keeper payments will not be eligible for Super Guarantee.
Employees are being directed to contact their Employer to find out if they are able to register for the Job Keeper payments.
Employers will receive more information from the ATO once they have registered online, however click here for further information in the meantime.