The biggest ever wage subsidy has been announced by the Federal Government of Australia in response to the ongoing COVID-19 Crisis. Federal Measures as at Monday 30th March 2020 - JobKeeper Payment.
Followings are the key points:
- The employer can be subsidised up to maximum $1,500 a fortnight, per employee
- Sole Traders are eligible
- To be eligible, the turnover of business will need to have fallen significantly
- If an employee earns less than $1,500 per fortnight, the government will effectively pay their entire wage
- The employee has to have been employed on 1st March 20 to be eligible
- The government will backdate the payment to 30th March 20
- Actual payments will likely to be released to eligible employers from early May 2020
- All temporary visa holders will not eligible, except New Zealanders on 444 visas. However, there are ongoing lobbyings and conversations with the Federal Government
- Employers DO NOT need to pay Super Guarantee on these wages subsidies
- Employers DO NOT NEED TO REGISTER
As of the 5th April 2020, there are no detailed measures from government or ATO. It is suggested to continue with regular arrangements.