Coronavirus Jobkeeper Payment

Federal Government offers $130b in coronavirus wage subsidies for businesses to pay workers

The Government has announced a $130 billion JobKeeper payment to help keep more Australians in jobs and support businesses affected by the significant economic impact caused by the Coronavirus.

Around 6 million workers will receive a fortnightly payment of $1,500 (before tax) through their employer. The payment ensures eligible employers remain connected to their workforce and will help businesses restart quickly when the crisis is over.

Information for employers

If your business has been significantly impacted by the Coronavirus you will be able to access a wages subsidy to continue paying your employees. Under the JobKeeper program, you will be able to claim a fortnightly payment of $1,500 per eligible employee from 30 March 2020, for a maximum of six months. This assistance will help you keep staff and will help you restart when the crisis is over.

To register your interest, please visit the Australian Taxation Office: https://www.ato.gov.au/general/gen/JobKeeper-payment/?=redirected_JobKeeper

What employers will need to do is reach out to their banks knowing that they will have this confirmed money flow coming from tax office, namely from the Government, and then that will give them the ability to pay their employees. 

Information for employees

The JobKeeper payment helps businesses significantly impacted by the Coronavirus cover the costs of their employees’ wages, so more Australians can retain their jobs and continue to earn an income. Your employer will notify you if they intend to claim the fortnightly payment of $1,500 on your behalf.

Got any questions? Just contact us for further clarification on the new subsidy on 07 3355 6427.

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Source: JobKeeper payment | Treasury.gov.au (2020). Available at: https://treasury.gov.au/coronavirus/jobkeeper (Accessed: 30 March 2020).
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We love to put energy and passion back into life by taking away the bookwork drag. With the help of smart systemised bookkeeping systems life can become easier. Notch Above Bookkeeping was founded in 2006 after Jac Gallagher saw the need for small businesses to have access to accurately prepared and up to date financials, enabling owners to make informed financial decisions on their business in a timely manner. Notch Above is a Xero Platinum Partner based in Brisbane QLD servicing business owners and accounting businesses.

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