The Australian Government has introduced the JobKeeper payment to enable coronavirus effected businesses to retain staff and help them keep their businesses open; and bounce back after the crisis.
From 30 March 2020, eligible employers can claim $1,500 per fortnight per eligible employee for 6 months ending 27 September 2020, with the first payments being made to employers in the first week of May.
For more detailed information on the jobkeeper payments and other payments available please click here to download our publication.
Who is eligible for the JobKeeper Payment?
A business is an eligible employer if:
• It carries on business in Australia on 1 March 2020, and
• It suffered a decline in turnover of 30% compared to the same month or quarter in 2019.
There are different criteria for charities or businesses with over $1 billion in turnover. For information on these entities please contact our office.
Employees are eligible if:
· currently employed by the eligible employer (including those stood down or re-hired)
· are either
o permanent full-time or part-time employees of your client (or another entity in your client’s wholly owned group) who were employees as at 1 March 2020
o casually employed by your client (or another entity in your client’s wholly owned group) on a regular and systematic basis for at least 12 months as at 1 March 2020 and not a permanent employee of any other employer
· were at least 16 years of age as at 1 March 2020
· were an Australian resident as at 1 March 2020 within the meaning of the Social Security Act 1991, which requires that they reside in Australia, and are one of an Australian citizen, the holder of a permanent visa, a Protected Special Category Visa Holder
o more information about these requirements can be found on the Services Australia website under residence descriptions.
o the employee can also be an Australian tax resident who is a Special Category (Subclass 444) Visa Holder
· were not in receipt of any of these payments during the JobKeeper fortnight
o government parental leave or Dad and partner pay
o a payment in accordance with Australian worker compensation law for an individual’s total incapacity for work
· have not agreed with any other employer to be nominated as an eligible employee for the JobKeeper payment
· complete the JobKeeper employee nomination notice.
What if I am self-employed?
Sole traders are eligible for the JobKeeper Payment but must meet certain eligibility criteria. Other eligible businesses can nominate only one working director, partner, beneficiary or shareholder, as well as, any eligible employees.
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.
HOW CAN FEMIA ACCOUNTANTS HELP YOU?
Specializing business support – we’re here to help you throughout this period of instability.
This is uncharted territory for all of us but we are here to assist you with all the knowledge we have to help you adapt to the changing environment and keep your business afloat.
In order for us to enrol and apply on your behalf, please CLICK HERE and enter the required details.
The initial registration was to receive updates only. You must enrol in order to obtain these benefits.
Please contact me on 08 9316 4500 should you have any queries.