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Government Economic Stimulus

JobKeeper Payment ($1,500 per employee)

Summary

Under the JobKeeper Payment, businesses impacted by Covid-19 will 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. To receive the JobKeeper Payment, employers must: Register an intention to apply on the ATO website and assess that they have or will experience the required turnover decline Provide information to the ATO on eligible employees. This includes information on the number of eligible employees engaged as at 1 March 2020 and those currently employed by the business (including those stood down or rehired). For most businesses, the ATO will use Single Touch Payroll data to pre-populate the employee details for the business. Ensure that each eligible employee receives at least $1,500 per fortnight (before tax). For employees that were already receiving this amount from the employer, they will continue to receive their regular income according to their prevailing workplace arrangements. For employees that have been receiving less than this amount, the employer will need to top up the payment to the employee up to $1,500 per fortnight, before tax. And for those employees earning more than this amount, the employer is able to provide them with a top-up. Notify all eligible employees that they are receiving the JobKeeper Payment. Continue to provide information to the ATO on a monthly basis, including the number of eligible employees employed by the business. Eligibility Employers will be eligible for the subsidy if they pass the basic turnover test: their business has a turnover of less than $1 billion and their turnover has fallen by more than 30% (of at least a month); or their business has a turnover of $1 billion or more and their turnover has fallen by more than 50% (of at least a month); and the business is not subject to the Major Bank Levy. However, if your business doesn't pass the test, you may still be eligible for the JobKeeper payment based on an alternative test, which is explained in detail on the ATO website .

Under the JobKeeper Payment, businesses impacted by Covid-19 will 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.

To receive the JobKeeper Payment, employers must:

  • Register an intention to apply on the ATO website and assess that they have or will experience the required turnover decline
  • Provide information to the ATO on eligible employees. This includes information on the number of eligible employees engaged as at 1 March 2020 and those currently employed by the business (including those stood down or rehired). For most businesses, the ATO will use Single Touch Payroll data to pre-populate the employee details for the business.
  • Ensure that each eligible employee receives at least $1,500 per fortnight (before tax). For employees that were already receiving this amount from the employer, they will continue to receive their regular income according to their prevailing workplace arrangements. For employees that have been receiving less than this amount, the employer will need to top up the payment to the employee up to $1,500 per fortnight, before tax. And for those employees earning more than this amount, the employer is able to provide them with a top-up.
  • Notify all eligible employees that they are receiving the JobKeeper Payment.
  • Continue to provide information to the ATO on a monthly basis, including the number of eligible employees employed by the business.

Eligibility

Employers will be eligible for the subsidy if they pass the basic turnover test:

  • their business has a turnover of less than $1 billion and their turnover has fallen by more than 30% (of at least a month); or
  • their business has a turnover of $1 billion or more and their turnover has fallen by more than 50% (of at least a month); and
  • the business is not subject to the Major Bank Levy.

However, if your business doesn't pass the test, you may still be eligible for the JobKeeper payment based on an alternative test, which is explained in detail on the ATO website.

Application Process

The deadline to enrol into the initial JobKeeper wage subsidy is 31st May 2020. If you enrol after 31st May, you will still be able to claim payment for April and May, provided you meet all the requirements.

Businesses with employees

  • Initially, employers can register their interest in applying for the JobKeeper Payment via ato.gov.au from 30 March 2020.
  • Subsequently, eligible employers will be able to apply for the scheme by means of an online application.
  • The first payment will be received by employers from the ATO in the first week of May.
  • Eligible employers will need to identify eligible employees for JobKeeper Payments and must provide monthly updates to the ATO.
  • Participating employers will be required to ensure eligible employees will receive, at a minimum, $1,500 per fortnight, before tax. It will be up to the employer if they want to pay superannuation on any additional wage paid because of the JobKeeper Payment.

Businesses without employees

  • Businesses without employees, such as the self-employed, can register their interest in applying for JobKeeper Payment via ato.gov.au from 30 March 2020.
  • Businesses without employees will need to provide an ABN for their business, nominate an individual to receive the payment and provide that individual’s Tax File Number and provide a declaration as to recent business activity.
  • People who are self-employed will need to provide a monthly update to the ATO to declare their continued eligibility for the payments.
  • Payment will be made monthly to the individual’s bank account.

Further details are provided on the ATO website for JobKeeper payment.

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