Stimulus Package #3

Wage Subsidy to Employees through Employers

Can only be eligible for Jobseeker Payments or Jobkeeper Payments. If on Jobseeker Payments, you may transition to Jobkeeper Payments.

Jobkeeper Payments (Administered through ATO – go through your Employers)

• “Jobkeeper Payments” of a flat amount of $1,500 per fortnight to each employee through their employers for the next six months.

• Applies to small businesses with turnover falling by 30%.

• Payments available to part-time workers, sole traders and casuals who have been with their employer for 12 months or more. Still to determine if temporary visa holders are included.

• Designed to keep employees connected with employers, keeping people in jobs.

• Employers need to have the employees in their books from 1 March 2020. If retrenched during this time, can put them back in the books. More complicated if it has already been formalised you have already accepted a redundancy payment.

• Administered through the ATO (not Centrelink).

• Available to employees stood down from 1 March 2020.

• Employers need to be recording wages through BAS and Single Touch Payroll.

• No super @ 9.5% will apply to this payment.

• Employers can apply to the ATO from today.

• Payments will flow from 1 May and backdated to today.

• New Zealanders on 444 visas and not-for profits are eligible.

Jobseeker Payments (Administered through Centrelink)

• Individuals whose partners earn up to $79,762 are now eligible for the Jobseeker payment (previously around $48,000).

Legislation to pass the above through law will take at least one week with the Federal Parliament.