On 30 March 2020 the Government announced a JobKeeper Payment Stimulus program to help businesses affected by COVID-19 to receive a subsidy from the Government to continue paying their employees. The affected employers will be able to claim a fortnightly payment of $1500.00 before tax for payment made from 30 March 2020 to 30 September 2020.
To be eligible for the JobKeeper Payment the business must satisfy of the following criteria:
- Business with a turnover less than $1 billion and the business turn over will be reduced by more than 30 per cent relative to a comparable period a year ago (of at least a month); or
- Business with a turnover of $1 billion or more and the business turn over will be reduced by more than 50 per cent relative to a comparable period a year ago (of at least a month); and
- The business is not subject to Major Bank Levy.
As an approved JobKeeper Payment receiver, the business has the following obligations:
- Register an intention to apply on the ATO website and assess that they have or will experience the required turnover decline.
- Provide information to the ATO on eligible employees. This includes information on the number of eligible employees engaged as at 1 March 2020 and those currently employed by the business (including those stood down or rehired). For most businesses, the ATO will use Single Touch Payroll data to pre-populate the employee details for the business.
- Ensure that each eligible employee receives at least $1,500 per fortnight (before tax). Employees who earn at least $1500 per fortnight before tax already will meet this obligation and therefore no change in their level of income. For employees who earn less than $1500 per fortnight however, the employer needs to top up their salary to be at least $1500 per fortnight before tax.
- Notify all eligible employees that they are receiving the JobKeeper Payment.
- Continue to provide information to the ATO on a monthly basis, including the number of eligible employees employed by the business.
The employees of the business need to satisfy the following to be eligible for JobKeeper Payment:
- Currently employed by the eligible employer (including 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;
- With immigration status:
- are Australian citizen; or
- holder of a permanent visa; or
- a protected special category visa holder; or
- a non-protected special category visa holder who has been residing continually in Australia for 10 years or more; or
- holder of special category visa (subclass 444); and
- are not in receipt of a JobKeeper Payment from another employer.
You are welcome to contact our office on 07 3290 5290 or email us at email@example.com to find out further about your eligibility for JobKeeper Payment Stimulus Package and we are ready to assist you.