NEWS ALERT - JobKeeper Payment - Information for Employers

Background

Under the JobKeeper Payment, businesses impacted by the Coronavirus may 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.

Your Obligations:

1. Register an intention to apply on the ATO website and assess that they have or will experience the required turnover decline.

2. Provide information to the ATO on eligible employees.

3. Ensure that each eligible employee receives at least $1,500 per fortnight (before tax).

4. Notify all eligible employees that they are receiving the JobKeeper Payment.

5. Continue to provide information to the ATO on a monthly basis, including the number of eligible employees employed by the business.

Eligible Employers:

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.

Employers looking to understand the JobKeeper Payments and how they relate to their business should contact the team at Sharpe Workplace Solutions by email info@sharpews.com.au or call on (07) 46915046.

Download the Treasury Fact Sheet

The above information is intended as general information only and not as professional advice. If you need further guidance, please don’t hesitate to contact us.