Jobkeeper Payments Explained

Scott Morrison has announced the JobKeeper Payment program in the wake of COVID-19, designed to supply wage subsidies for firms who have experienced a downturn. Here’s anything you need to have to know.

On 30 March 2020, primary minister Scott Morrison announced a $a hundred thirty billion stimulus package deal designed to help companies maintain workforce on their guides even if they have shutdown. It can be identified as the JobKeeper Payment program and it will supply wage subsidies for up to six months for businesses that are struggling.

Down below you will come across an overview of anything you need to have to know about JobKeeper Payments. We really advocate you also take a look at our coronavirus hub web site, which hyperlinks out to dozens of useful guides. From house education, to dealing with mortgage loan payments, decreasing residence payments, acquiring bathroom paper and extra.

What is the JobKeeper Payment program?

The nuts and bolts of the JobKeeper Payment program is that the Australian Government will supply an employer with $one,500/fortnight for just about every qualified personnel to subsidise their wage. The business is then predicted to move that wage onto just about every personnel it would in any other case be compelled to enable go because of to a downturn in business.

The full amount, right before tax, must be passed from employer to personnel, or that business’ homeowners will face stiff penalties. (And so they need to!)

Which workforce are qualified for JobKeeper Payments?

If you are an Australian citizen who was a full time, section time or casual employee (operating for the exact employer for 12 months), and you have been stood down – or experienced a reduction in hours – considering that one March 2020, then you need to begin a dialogue with your employer requesting to be introduced back again onto the guides.

If your employer is qualified to assert the JobKeeper Payment then the Australian Government could subsidise your wage. If the assert is prosperous and they convey you back again onto the guides, the Government will pay out $one,500 of your fortnightly wage with out incurring any immediate price to your employer’s business.

It also consists of New Zealanders with a Subclass 444 Special Category By using – also recognised as a momentary VISA to reside in Australia indefinitely – you are also qualified.

In advance of you request, no, you cannot acquire JobKeeper Payments from extra than 1 employer.

Which companies are qualified to assert JobKeeper Payments wage subsidies?

For a business to be qualified to assert the JobKeeper Payments, it must tick 1 of these boxes, which are self-assessed:

  • For a enterprise with a turnover of less than $one billion, it must have experienced a 30{cbf6da10fac2230370cea9448ed9872290737d25c88b8c8db3eefaf8c399e33d} or extra downturn more than the period of a thirty day period.
  • A enterprise with a turnover over $one billion must have experienced a 50{cbf6da10fac2230370cea9448ed9872290737d25c88b8c8db3eefaf8c399e33d} or extra downturn more than the period of a thirty day period.

If qualified, an employer can begin bringing team back again onto its guides straight away. The initial JobKeeper Payment wage subsidies will not land until eventually the begin of Might, even so, they will be backdated to 30 March or to when a team member has been reengaged.

Enterprises in the context of the JobKeeper Payments incorporate

  • Organizations
  • Partnerships
  • Trusts
  • Sole Traders
  • Not for income entities, which include charities

How to use for JobKeeper Payments?

If you are an employer that is qualified to acquire JobKeeper Payments, then you need to sign up your desire in the program with the ATO. The Australian Government will then move you the data you need to have to get started off.

If you are an personnel, then it is in the arms of your employer – or previous employer in most circumstances – to sign up the firm’s intent to assert the JobKeeper Payments. Though it would no doubt be in your most effective pursuits to sign to them that you want your job back again.

How extensive will JobKeeper Payments final?

For up to six months, working March 30 by way of to about October one. An formal stop date to that six-thirty day period window was not specified, so browse that as our individual speculation.

Can you get a JobKeeper Payment, a JobSeeker payment and a Coronavirus Health supplement?

No, you cannot. The JobKeeper program is there to acquire the load off Centrelink and to maintain you employed until eventually we’re by way of the Coronavirus pandemic and firms can reopen and begin trading yet again. If your office is qualified and sending you $one,500/fortnight then you are employed. Also, you are earning extra than the threshold to be qualified for JobSeeker Payments, Youth Allowance or the other Centrelink welfare payments, also.

For that reason, you cannot acquire JobKeeper Payments from your employer and get JobSeeker Payments from Centrelink. And considering that you can get JobSeeker Payments, you are also not qualified for the Coronavirus Health supplement.

If that gives you pause, never enable it. Even with the Coronavirus Health supplement, you would not get $one,500/fortnight from Centrelink.

What to do if you are not qualified for JobKeeper Payments

If you or your employer is not qualified for JobKeeper Payments, then you need to have to glance at JobSeeker Payments or other welfare gains from Centrelink. We have an comprehensive information to Centrelink all through Coronavirus that will help you by way of that.

No, this is not section of the Centrelink welfare payment plans. Will not ring Centrelink they are unable to help you influence your ex-boss to use for JobKeeper Payments.