The stimulus measures and changes keep coming thick and fast from the Government. The latest is the Job-Keeper Payment – an overview for you below:
- Designed to keep employees attached to their employer rather than on the Centrelink queue.
- To be eligible your business will have suffered a turnover reduction of 30% or more when compared to a relative period last year (self-assessed we believe).
- Payments of up-to $1,500 per fortnight per employee who was employed by the business prior to 1 March 2020.
- Payments will flow for a maximum period of 6-months.
- Will be controlled by the Single Touch Payroll system.
- The inclusions on this measure are wider than the previous ones. Now including casuals, sole traders and self-employed without employees (we expect more information to come on how this applies to trusts with no employees etc).
- There are specific requirements (like casuals must have been employed for 12-months or more and the payments do not start until May) to consider and some changes are possible.
The best thing to do is “pre-register” now and the ATO will then keep you informed as the measure progresses: https://www.ato.gov.au/Job-keeper-payment
We will be updating the site with updates as they are received.