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JobKeeper Payment

Wednesday, April 15, 2020

The Government has announced a new subsidy called the JobKeeper Payment. Under the JobKeeper Payment, businesses significantly impacted by the coronavirus will be able to access the subsidy to continue paying employees.

The details that you need to know:-
-The payment will be $1,500 a fortnight which is just above the minimum wage;
-The subsidy will last for 6 months;
-It will be payable directly to employers from May and will be backdated to 1 March;
-It is intended for business to keep employees;
-A reduction in turnover by more than 30% for those businesses with a turnover of less than $1 billion;
-Payments will be made monthly in arrears by the ATO.

The obligations on the employer to receive this payment are:-
-To register an intention to apply on the ATO website;
-Provide the ATO information about the eligible employees;
-Ensure that each eligible employee receives at least $1,500 per fortnight (before tax). If an employee ordinarily receives $1,500 or more per fortnight, before tax, they will continue to receive their regular income according to workplace agreements. If an employee ordinarily receives less than $1,500 per fortnight, before tax, the employer must pay their employee, at a minimum $1,500 per fortnight, before tax;
-If an employee has been stood down, the employer must pay the employee at a minimum $1,500 per fortnight, before tax;
-Notify your eligible employees that they are receiving the JobKeeper Payment
-Continue to provide to ATO information on a monthly basis.

To register your interest go to the below link.


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