The biggest in Australia’s History
The government has announced $130 billion to fund a new JobKeeper payment with the aim to keep employees employed.
Businesses will receive a fortnightly wage subsidy of up to $1,500 per employee as part of a Federal Government bid to prevent millions of people from losing their jobs to the coronavirus pandemic.
Employers that are eligible to receive the $1,500 fortnightly payments include:
- Businesses with a turnover of less than $1 billion that have a reduction in revenue of 30% or more since March 1 compared to prior year (Period covered >1 month);
- Businesses with a turnover of $1 billion or more that have a reduction in revenue of 50% or more since March 1
- The business is not subject to the Major Bank Levy – ANZ, Commonwealth, NAB, Macquarie and Westpac
Employees that are eligible for the wage subsidy include:
- are currently employed by the eligible employer (including those stood down or re-hired);
- were employed by the employer at 1 March 2020;
- are full-time, part-time, or long-term casuals (a casual employed on a regular basis for longer than 12 months as at 1 March 2020);
- are at least 16 years of age;
- are an Australian citizen, the holder of a permanent visa, a Protected Special Category Visa Holder, a 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; and
- are not in receipt of a JobKeeper Payment from another employer.