The Morrison Federal Government has announced a major initiative to help Australian employers retain their employees through the Covid-19 Crisis.
The funds will be available for ongoing employees as well as those that may have been previously let go, providing an option for them to come back to work on a part-time or full-time basis rather than going on unemployment support payments.
Importantly, only businesses that have experienced a severe decline in activity as a result of the current situation, with the mark set at a 30 per cent fall over the same period last year.
The program is being called the Jobkeeper Allowance and will be available to employers that retain staff over the next six months. Details below:
- To qualify, the business must have had a reduction in turnover of at least 30 per cent as compared with the same period last year.
- If that is met, then the business will receive A$1,500 per fortnight per employee. The allowance must be actually paid to employees as part of their remuneration.
- Applies to all full-time and part-time staff employed as at 1 March (including those that may have been recently laid off).
- Applies to casual staff if they have been employed for at least 12 months.
- Only staff that are Australian citizens, permanent residents or New Zealanders on special visas.
- The scheme will be administered by the ATO and first payments are likely in early May.
If you think your business may qualify, register online at https://www.ato.gov.au/general/gen/JobKeeper-payment/
