COVID-19: New wage subsidy to keep Australians in work

UPDATE: The ATO has updated information relating to the JobKeeper program. View the changes here.

New wage subsidies will keep millions of Australians in work amid the COVID-19 outbreak, as part of the federal government’s $130 billion JobKeeper program.

Eligible Camberwell businesses that have been affected by the pandemic will be able to access the wage subsidy payments to help keep their workers on the books.

The payment will provide about six million workers with $1,500 per fortnight, before tax, through their employers.

The JobKeeper payments will be paid for up to six months to eligible employees who have been working with a company since March 1, 2020 and remain with the business.

The government said eligible businesses could start distributing the payment immediately and would be reimbursed by the Australian Taxation Office (ATO) from the first week of May.

Businesses can apply for the payment if they have annual turnover of less than $1 billion and have experienced a reduction in revenue of at least 30 per cent since March 1, 2020.

Employers with annual turnover of more than $1 billion must show a reduction in revenue of 50 per cent or more to qualify for the subsidy.

Companies, sole traders, partnerships, trusts, and not-for-profit organisations such as charities can apply for JobKeeper payments.

The wage subsidy will be available to full-time workers, part-time workers, casuals and self-employed people.

Workers who have been stood down since March 1 will be able to access the payment as long as they’re still with their employer.

Eligible workers include Australian residents, New Zealand citizens in Australia on a subclass 444 visa, and migrants who are eligible for the JobSeeker payment or Youth Allowance.

Employers can register their interest for the JobKeeper payment through the ATO here.