Updated: 6th May 2020. The JobKeeper Payment is a payment made to eligible businesses and not-for-profits affected by the Coronavirus to support them in retaining employees. Eligible businesses that elect to participate will receive a payment of $1,500 per fortnight per eligible employee to support the people they employed as at 1 March 2020 who are retained in employment. Businesses must have paid their employees before they are entitled to receive the JobKeeper payment. Where an employee’s total remuneration is less than $1,500 per fortnight (before tax), or has been stood down, the employer must provide the employee at least $1,500 per fortnight (before tax). Where an employee earns more than $1,500 per fortnight, employers can use the payment to subsidise the employee’s wages. 

Updated 6th May 2020. The JobKeeper Payment and the related programs represent a significant investment to support the Australian economy and people in the face of the Coronavirus crisis. To protect this investment, the framework for the JobKeeper Payment has robust features to ensure integrity and allow swift and effective action to be taken against fraud and other abuse.

Updated 6th May 2020. The Government is introducing a wage subsidy program to support employees and businesses. The JobKeeper Payment is designed to help businesses affected by the Coronavirus to cover the costs of their employees’’ wages, so that more employees can retain their job and continue to earn an income. Keeping Australians in work and businesses in business will lay the foundations for a stronger economic recovery once the Coronavirus crisis passes. 

The long awaited passing of the JobKeeper legislation has occurred – finally! It answers some of our questions but not all as some of the requirements are going to need further guidance from the Commissioner (Australian Taxation Office or ATO). We understand that this is very frustrating for everyone as JobKeeper was supposed to be in effect from 30th March 2020, so, we have summarised below for you what we do know so you can make your own assessment as to whether you may be eligible.

COVID-19 is putting serious financial pressure on Australian businesses, so it is crucial to know what government support is available to help support your business. The Government announced on 12 March 2020 that the new Boosting Cash Flow for Employers measure will be increased to provide up to $100,000 for eligible small and medium-sized businesses. We take a look at the Job Keeper payment and other government initiatives to help businesses through this period.

Today, Wednesday 8 April, the Federal Parliament will be holding an emergency sitting of both houses to debate and hopefully pass, the latest and much anticipated third stimulus package proposed by the government (Job Keeper), if it’s anything like the first stimulus package which was rushed through on the 23 March 2020, it may in fact be late tonight or the early hours of Thursday morning that we will have all of the details.