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JobKeeper payment basic information

The Government JobKeeper payment of $1,500 per fortnight is designed to keep employees connected to their pre Covid-19 employer and provide them with an important income supplement. The PM's announcement yesterday is a massive boost to all those employees that will lose their job due the Corvid-19 outbreak. 

 

Businesses can register their interest in the scheme here:

Register your interest here

 

We will post further information as it becomes available.

Subsequently, eligible employers will be able to apply for the scheme by means of an online application. The first payment will be received by employers from the ATO in the first week of May. Eligible employers will need to identify eligible employees for JobKeeper Payments and must provide monthly updates to the ATO. Participating employers will be required to ensure eligible employees will receive, at a minimum, $1,500 per fortnight, before tax. It will be up to the employer if they want to pay superannuation on any additional wage paid because of the JobKeeper Payment. Further details for businesses for employees will be provided on ato.gov.au.

This is also a massive boost to employers, one of the biggest costs of employing staff is finding the right staff and training them. The JobKeeper allows business to retain all that built up experience, potentially saving the business signification expense once the business gets back to normal. 

The basic eligibility criteria is;

  • The business has a turnover of less than $1 billion , and their turnover has fallen by more than 30% compared to the same period 12 months ago (a one month period)
  • The business has a turnover of $1 billion or more, and their turnover has fallen by more than 50% compared to the same period 12 months ago (a one month period)
  • The business is not subject to the Major Bank Levy
  • The employee was in an employee relationship with the business on 1 March 2020, and had been employed in the business for 12 months prior
  • The employee is currently engaged by the business, they can be stood down or re-hired
  • the employee is full time, part time or a long-term casual (a casual employer on a regular basis for more than 12 months). This is not part of the information so far but I would surmise that that where there has been a merger, take over or purchase of a business it will include casuals that have transition to the new employer.  
  • the employee is at least 16 years of age
  • are not receiving the JobSeeker payment
  • the employee is a citizen, a permanent visa holder, protected special category visa holder, non-protected Special Category Visa Holder who has been residing continually in Australia for 10 years or more, or a Special Category (Subclass 444) Visa Holder 

While sole traders who obviously cannot employ themselves are specifically included in the scheme it is not clear whether partners in a partnership of individuals will be included.