{"id":5697,"date":"2020-03-31T14:00:27","date_gmt":"2020-03-31T03:00:27","guid":{"rendered":"https:\/\/astrolabeacc.com.au\/?p=5697"},"modified":"2020-03-31T15:14:10","modified_gmt":"2020-03-31T04:14:10","slug":"jobkeeper-payment","status":"publish","type":"post","link":"https:\/\/astrolabeacc.com.au\/jobkeeper-payment\/","title":{"rendered":"JobKeeper Payment"},"content":{"rendered":"

\"JobKeeperThe goverment has announced a massive $130 billion subsidy on employment to\u00a0help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus. The JobKeeper Payment dwarfs the size and scope of the previous support package.<\/p>\n

Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through for up to six months. The payment ensures eligible employers remain connected to their workforce. This will help businesses restart quickly when the crisis is over.<\/p>\n

Eligible employers<\/h2>\n

Employers with a turnover under $1 billion are eligible if they that suffer a greater than 30% drop in turnover. Measure turnover over a period of at least a month, and compare it to the same period last year.<\/p>\n

Larger employers have to suffer a 50% reduction in turnover to qualify, and major banks don’t qualify at all.<\/p>\n

Employers must elect to participate in the scheme. They will need to apply to the Australian Taxation Office and provide supporting information demonstrating a downturn in their business. In addition, employers must report the number of eligible employees employed by the business on a monthly basis. You can start the process by registering here<\/a>.<\/p>\n

Eligible employees<\/h2>\n

Eligible employers will receive the payment for each eligible employee that was on their books on 1 March 2020 and continues to be engaged by that employer. These include full-time, part-time, long-term casuals and stood down employees. Long-term casuals means those who have been with their employer on a regular basis for at least the previous 12 months as at 1 March 2020. To be eligible, an employee must be an Australian citizen, a permanent resident, or hold a specified visa.<\/span><\/p>\n

Eligible employers who have stood down their employees before the commencement of this scheme will be able to participate. Employees that are re-engaged by a business that was their employer on 1 March 2020 will also be eligible.<\/p>\n

Where an employer is eligible for the JobKeeper Payment, they may start paying an employee receiving support though Services Australia because they have been stood down or had their hours reduced. In this case the employee should advise Services Australia online at my.gov.au or by telephone.<\/p>\n

Only one employer will be eligible to receive the payment for an individual. The employee will need to notify their primary employer to claim the JobKeeper Payment on their behalf. In most cases the employee\u2019s primary employer will be the one with whom the employee claims the tax-free threshold.<\/p>\n

Self-employed individuals<\/h2>\n

Self-employed individuals will also be eligible to receive the JobKeeper Payment where they have suffered or expect to suffer a 30 per cent decline in turnover.<\/p>\n

Businesses without employees, such as the self-employed, can register their interest in applying for JobKeeper Payment<\/a> from 30 March 2020.<\/span><\/p>\n

Businesses without employees will need to provide an ABN for their business, nominate an individual to receive the payment and provide that individual\u2019s Tax File Number and provide a declaration as to recent business activity.<\/span><\/p>\n

Self-employed persons must provide a monthly update declaring their continued eligibility. The Tax Office will pay the JobKeeper Payment monthly to the individual\u2019s bank account.<\/span><\/p>\n

Payment process<\/h2>\n

The Tax Office will pay eligible employers $1,500 per fortnight for each eligible employee. Employers must pay eligible employees a minimum of $1,500 per fortnight, before tax. Employers may also top-up the payment.<\/p>\n

Where employers participate in the scheme, their employees will receive this payment as follows:<\/p>\n