What is JobKeeper in Australia?
The Australian Tax Administration (ATO) has released a new version of the JobKeeper Payment Scheme to support businesses significantly affected by COVID-19. So what is JobKeeper in Australia?
Thanks to this scheme, employers can pay a salary to an employee of at least Australian $ 1,500 (before tax) in two weeks. Certain categories of employers will be paid a fixed amount of AU $ 1,500 for two weeks for each employee who meets certain criteria.
To qualify for JobKeeper, employers and their employees must meet a number of criteria. Key criteria related to business:
- 30% drop in turnover (for a total turnover of Australian $ 1 billion or less);
- a 50% drop in turnover (with a combined turnover of more than 1 billion Australian dollars);
- 15% drop in turnover (for charities registered in ACNC, except universities and schools).
The first payments to suitable employers will begin in the first week of May 2020. JobKeeper payment can be made for the period starting March 30, 2020.
We draw your attention to the fact that this article is for informational purposes only. For more advice, contact us at the contacts listed on the site.