Australian Government JobKeeper Payment
Under the JobKeeper Payment by the Federal Government, businesses impacted by the COVID-19 will be able to access a subsidy from the Government to continue paying their employees. Affected employers will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum period of 6 months.
Employers will be eligible for the subsidy if:
their business has a turnover of less than $1 billion and their turnover will be reduced by more than 30 per cent relative to a comparable period a year ago (of at least a month); or
their business has a turnover of $1 billion or more and their turnover 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 the Major Bank Levy.
The employer must have been in an employment relationship with eligible employees as at 1 March 2020, and confirm that each eligible employee is currently engaged in order to receive JobKeeper Payments.
Not-for-profit entities (including charities) and self-employed individuals (businesses without employees) that meet the turnover tests that apply for businesses are eligible to apply for JobKeeper Payments.
Eligible employees are employees who:
are currently employed by the eligible employer (including those 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;
are an Australian citizen, the holder of a permanent visa, a Protected Special Category Visa Holder, a non-protected Special Category Visa Holder who has been residing continually in Australia for 10 years or more, or a Special Category (Subclass 444) Visa Holder; and
are not in receipt of a JobKeeper Payment from another employer.
If your employees receive the JobKeeper Payment, this may affect their eligibility for payments from Services Australia as they must report their JobKeeper Payment as income.
Employers can register their interest in applying for the JobKeeper Payment via https://www.ato.gov.au/Job-keeper-payment/
The first payment will be received by employers from the ATO in the first week of May.
It will be up to the employer if they want to pay superannuation on any additional wage paid because of the JobKeeper Payment.
Further details for businesses and employees will be provided on ato.gov.au.
BUSINESSES WITHOUT EMPLOYEES
Businesses without employees, such as the self-employed, can register their interest in applying via the same link.
Businesses without employees will need to nominate an individual to receive the payment and provide that individual’s Tax File Number, along with a declaration as to recent business activity.
Further details for the self-employed will be provided on ato.gov.au.
Fact sheets regarding the JobKeeper Payment can be found at
BUSINESS VICTORIA GRANTS
Business Victoria is also providing up to 10K grant assistance to businesses that may have been impacted by coronavirus (Covid-19).
Please refer to the attached link to see if your business is eligible