The Commonwealth Government has announced it will provide a historic wage subsidy to around 6 million workers who will receive a flat payment of $1,500 per fortnight through their employer before tax.
The $130 billion JobKeeper payment will help keep Australians in jobs and tackle the significant economic impact from the coronavirus. The payment will be open to eligible businesses that receive a significant financial hit caused by the coronavirus. The payment will provide the equivalent of around 70 per cent of the national median wage.
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.
R&CA has compiled a preliminary JobKeeper Payment FAQs document below to help inform employers and employees.
Go to http://rca.asn.au/rca/wp-content/uploads/2020/03/JOBKEEPER-PAYMENT-FAQs.pdf for details.