Job Keeper Payments

The Australian Federal Government announced today the JobKeeper payment support which helps businesses significantly impacted by the Coronavirus cover the costs of their employees’ wages, so more Australians can retain their jobs and continue to earn an income.

The payments are for six (6) months compared to the UK & NZ which are for three (3) months

Who will it apply to?

• Full-time employees;
• Part-time Employees;
• Includes employees stood down;
• Casual employees who have been with their employee for at least the last 12 months;
• Sole traders.

Employees will need to have been on your books as at 1 March 2020.

What if you are not an Australian citizen?

You will need to consult your employer as there are exemptions e.g. Special Category (Sub-class 444) Visa holder.

Which employers will be affected by the payment?

Businesses who have seen the turnover drop by more than 30% for a business with a turnover of less than $1 billion or 50% for those with a turnover of greater than $1 billion.

When will it be paid?

From first week of May 2020 backdated to 30 March 2020.

What if I earn less than $1,500 in a fortnight?

The payment is a flat amount therefore you will receive the full $1,500 before tax. 

Does the payment apply to Not-For-Profit Organisation?

YES

If I receive the $1,500 per employee as an employer do, I need to pass it on to employees?

YES, you must pass the full $1,500 on to each employee entitled to the payment.

This payment equates to 70% of medium wage or 100% of medium wages for those in retail, hospitality and tourism.

Your employer must notify employees if they intend to claim the fortnightly payment of $1,500 on your behalf.

For more information on this support click here

For more information on support available to business and households call Balanix Solutions on 07 3264 4783 or CLICK HERE