The JobKeeper Payment

The Australian government is introducing a subsidy program to support employees and businesses.

The JobKeeper Payment is designed to help businesses affected by the Coronavirus to cover the costs of their employees’ wages, so that more employees can retain their job and continue to earn an income. Keeping Australians in work and businesses in business will lay the foundations for a stronger economic recovery once the Coronavirus crisis passes.

Under the JobKeeper Payment, businesses significantly impacted by the Coronavirus outbreak will be able to access a subsidy from the Government to continue paying their employees. This assistance will help businesses to keep people in their jobs and re-start when the crisis is over. For employees, this means they can keep their job and earn an income – even if their hours have been cut.

The JobKeeper Payment is a temporary scheme open to businesses impacted by the Coronavirus. The JobKeeper Payment will also be available to the self-employed.

The Government will provide $1,500 per fortnight per employee eligible for up to 6 months.

The JobKeeper Payment will support employers to maintain their connection to their employees. These connections will enable business to reactivate their operations quickly – without having to rehire staff – when the crisis is over.

The subsidy will start on 30 March 2020, with the first payments to be received by employers in the first week of May. If you would like to register your interest directly with the ATO, please click here, or contact your accountant and they will be able to guide you through the process.

Further details regarding the practical application process are expected to be released in the coming days however, please see below for links to the current fact sheets:

To check your eligibility please click on the option related to your situation below:

Supporting businesses retain jobs click here.
Information for employers click here.
Information for employees click here.

If you need help or guidance in navigating through this process, please contact us and we will assist you proactively.

Melbourne

Matt Murphy – mattm@primefinancial.com.au
Brendan Brown – brendanb@primefinancial.com.au
Simone Quin – simoneq@primefinancial.com.au
Paul Minieri – paulm@primefinancial.com.au
Jade Nicholls – jaden@primefinancial.com.au
Stuart Thomson – stuartt@primefinancial.com.au

Brisbane

Matthew Smith – matts@primefinancial.com.au
John Driscoll – johnd@primefinancial.com.au
Sean Fincham – seanf@primefinancial.com.au

Sydney

John Driscoll – johnd@primefinancial.com.au
Sean Fincham – seanf@primefinancial.com.au

This post is provided by Prime Accounting and Business Advisory Pty Ltd. Liability limited by a scheme approved under Professional Standards Legislation. This post is not a substitute for independent professional advice. We do not warrant the accuracy, completeness or adequacy of the information or material in this post. All information is subject to change without notice. We and each party providing material displayed in this post disclaim liability to all persons or organisations in relation to any action(s) taken on the basis of currency or accuracy of the information or material, or any loss or damage suffered in connection with that information or material. You should make your own enquiries before entering into any transaction on the basis of information or material in this post. Please ensure you contact us to discuss your particular circumstances and how the information provided applies to your situation.

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