The JobKeeper Payment is a temporary scheme available to businesses impacted by the coronavirus outbreak. Under the Jobkeeper Payment, the Australian Government will provide a fortnightly payment of $1,500 per eligible employee until 27 September 2020.
For employees, this means they can keep their job and earn an income – even if their hours have been cut.
Employers will be eligible for the subsidy if, at the time of applying:
The employer must have been in an employment relationship with eligible employees as at 1 March 2020, and can confirm that each eligible employee is currently engaged in order to receive JobKeeper Payments.
Self-employed individuals will also be eligible to receive the JobKeeper Payment where they meet the relevant turnover test outlined above, and are not a permanent employee of another employer.
Eligible employees are employees who:
Eligible employers will be paid $1,500 per fortnight per eligible employee. Eligible employees will receive, at a minimum, $1,500 per fortnight, before tax, and employers are able to top up the payment.
Where employers participate in the scheme, their employees will receive this payment as follows:
No superannuation guarantee payments are required to be paid on any additional payment made because of the JobKeeper Payment.
Payments will be made to the employer monthly in arrears by the ATO. For the month of April, the Commissioner can make an advance payment.
The subsidy will start on 30 March 2020, with the first payments to be received by employers in the first week of May. Businesses will be able to register their interest in participating in the Payment from 30 March 2020 on the ATO website.
Treasury Department has released factsheets on the JobKeeper Payment scheme for employers and employees. The employer factsheet contains information on the application process through the Australian Taxation Office (ATO).
Things are all over the shop at the moment; for both employers and employees. Whether you’re considering downsizing, changing a team member’s employment status or looking for ways to get the best from employees working from home, Bare Bones Consulting offers you the reassurance you’ll get things right. Call us today for a no obligation chat on how we can help you. Phone phobia? Shoot us an email through our “Contact us” page.
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