What The JobKeeper Payment Package Offers Your Business
March 25, 2020
Check if your business and employees qualify for the JobKeeper Payment announced by the Prime Minister and Treasurer today, Monday 30 March.
Key Eligibility Criteria Are:
A 30% drop in turnover relative to a comparable period a year ago (of at least a month), for businesses with turnover less than $1 billion; or
A 50% drop in turnover relative to a comparable period a year ago (of at least a month), for businesses with turnover more than $1 billion; and
Your business must not be subject to the Major Bank Levy
Businesses need to make an application to the Australian Tax Office and provide supporting information demonstrating a downturn in their business. Employers must also report the number of eligible employees employed by the business on a monthly basis.
What Is The Assistance Available?
A payment of $1500 per fortnight per employee for up to six (6) months that must passed onto the employee.
Full-time and part-time employees are eligible for the payment, as well as long-term casuals (over 12 months).
Employees must be Australian citizens, holders of permanent visas, a Protected Special Category Visa Holder who has been continually residing in Australia for 10 years or more and Special Category (Subclass 444) Visa Holder.
Employees who were stood down but are re-engaged by the business that was their employer on 1 March 2020.
Self-employed individuals will be eligible to receive the JobKeeper Payment where they have suffered or expect to suffer a 30 per cent decline in turnover relative to a comparable prior period (of at least a month).
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