JobKeeper Subsidy Update

The Government has announced a $1,500 JobKeeper subsidy to keep staff employed.

Date:

  • From 30 March 2020 for six months

  • For employeed employed at 1 March 2020

  • First payments in first week of May 2020

Applies to:

Based on comparable periods:

  • Employers <$1m that have experienced a downturn of more than 30%

  • Employers >$1m that have experienced a downturn of more than 50%

A subsidy of $1,500 per fortnight per employee, administered by the ATO, will be paid to businesses that have experienced a downturn of more than 30% (50% for businesses over $1m).
To be a part of the subsidy, employers will need to ensure that their employees receive at least $1,500 per fortnight (before tax).

A fact sheet explaining the JobKeeper Payment can be viewed here.

Kristy Paltridge