A new allowance is introduced - Jobkeeper Allowance
The ATO has introduced it's latest measure in the fight to keep Australians catered for during the COVID-19 breakout.
"Under the JobKeeper Payment, businesses impacted by the Coronavirus 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."
Details as they stand at the moment can be found here:-
Click for ATO Jobkeeper Payment Summary
The proposed allowance is not yet legislated meaning that final details can be changed and until it is passed anything could actually happen
We don't yet know what the requirements will be to show a downturn in turnover.
The $1,500 per fortnight remuneration threshold is the gross payment (before tax) due to the employee, it does not include superannuation.
Government has stated superannuation is not required to be paid on the pay increment made by an employer for employees requiring a remuneration uplift to qualify for the program. However, it is not yet clear how other on-costs (such as payroll tax and work cover) will apply.
Employees must be advised they are in receipt of the JobKeeper payment by the employer.