Register for Jobkeeper Initiative Updates

Posted on 31st March 2020 by Ashley Dawson

Register for Jobkeeper Initiative Updates

Click here to register

Third Stimulus Package – Jobkeeper Initiative

Yesterday, the Federal Government announced its third economic stimulus package against COVID-19, this time in the form of “Jobkeeper” payments and expanded access to the Jobseeker program administered by Centrelink. While many aspects of the program have been outlined, the Prime Minister and Treasurer were quick to confirm that work has not commenced on the draft legislation.

To date limited information about the scheme and how to register has been published by Treasury and the ATO and further details and clarity are being added through additional documents and explanations to the media. We can however confirm the following key features:

In terms of what is on offer:

• The amount of assistance payable is $1,500 per fortnight, per eligible employee
• Each eligible employee must receive at least $1,500 per fortnight (before tax)
• The definition of eligible employee is a full time employee, part time employee or casual employee with over 12 months service

In terms of what restrictions apply:

• The scheme is available to employers with turnover less than $1 billion who have experienced a 30% drop in actual or expected future revenue due to COVID-19
• Employees must be 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
• Employees must have been on the payroll at 1 March 2020 and, if since stood down or terminated, must return to the payroll
• Employees can only receive the JobKeeper payment from one employer

Sole traders can also register for and receive payments under the scheme.

To take part in the scheme, eligible employers will need to register with the ATO. Click our link at the top of the page to register.

We look forward to providing you with more comprehensive updates as they become available.  If you know anyone who you believe would benefit from our analysis please encourage them to subscribe using this link.