The Morrison authorities has introduced a $130bn help package deal with a brand new JobKeeper cost – a wage subsidy to maintain Australians in work.
So who precisely is eligible for this cost and the way a lot will they obtain?
How a lot is the cost price?
The federal authorities can pay eligible employers $1,500 per fortnight for every eligible employee, about 70% of the nationwide minimal wage.
JobKeeper is about $400 a fortnight greater than the $1,100 JobSeeker payment with the coronavirus complement for these out of labor.
Who’s eligible for JobKeeper?
With the intention to obtain a cost, each the employer and worker should meet eligibility standards.
Eligible employers are companies (together with corporations, partnerships, trusts and sole merchants), not-for-profits and charities:
With a turnover of lower than $1bn which have misplaced 30% or extra of their income in comparison with a comparable interval a yr in the past.
With a turnover of $1bn or extra and with not less than a 50% discount in income in comparison with a comparable interval a yr in the past.
The large banks topic to the banking levy aren’t eligible.
Had been employed by an eligible employer at 1 March 2020
Might be sole merchants, full-time, part-time, or long-term casuals employed regularly for longer than 12 months as at 1 March 2020.
Are not less than 16 years of age.
Are an Australian citizen, the holder of a everlasting visa, a protected particular class visa, a non-protected particular class visa who has been residing frequently in Australia for 10 years or extra, or a New Zealander on a particular class (subclass 444) visa.
The federal government estimates that six million staff will obtain this cost. Gig economic system staff might be lined, as they’re sole merchants.
What if I’m on a short lived visa?
Scott Morrison defined that New Zealanders on 444 visas will get the cost as a result of “they’re a part of an ongoing economic system in Australia”.
“We’re about maintaining them a part of it economic system as a result of they’re a part of what occurs on the opposite facet,” he advised reporters in Canberra.
Requested if there could be different exceptions – equivalent to for Pacific staff on non permanent visas – Morrison stated that some others “are into account however for now the brief reply to that’s no”. So eligibility could also be expanded to others, however for the time being many non permanent visa holders might be ineligible.
How will or not it’s paid?
Eligible employers might be paid $1,500 per fortnight per eligible worker from 30 March 2020, for a most of six months.
Eligible staff will obtain from their employers a minimal of $1,500 per fortnight, earlier than tax. Employers are capable of high up the cost.
Employers can pay staff as typical and funds might be made to the employer month-to-month in arrears by the Australian Tax Workplace.
Will I obtain $1,500 even when I ordinarily earn much less?
If an worker ordinarily receives lower than $1,500 in revenue per fortnight earlier than tax, their employer should pay them, at a minimal, $1,500 per fortnight, earlier than tax. It’s subsequently doable for a long-term informal or part-time employee to obtain greater than their odd pay.
What if I used to be stood down or sacked?
If an worker has been stood down, their employer should pay their worker, at a minimal, $1,500 per fortnight, earlier than tax.
Which means staff of companies that shut down as a consequence of numerous restrictions – equivalent to cafes, eating places, theatres, on line casino staff and the like – will proceed to be paid even when they don’t seem to be working.
If an worker was employed on 1 March 2020, subsequently ceased employment with their employer, after which has been re-engaged by the identical eligible employer, the worker will even obtain, at a minimal, $1,500 per fortnight, earlier than tax.
Treasurer Josh Frydenberg stated this cost “modifications the equation” and he expects employers who had been pressured to put off staff could now “put them again on the books”.
When will it begin being paid?
The subsidy will begin on 30 March, with the primary funds to be acquired by employers within the first week of Might. Within the meantime, employers should proceed paying their staff after which declare the cash from the primary week of Might.
Companies will have the ability to register their curiosity in taking part within the cost from 30 March on the ATO web site. At 5pm on Monday eight,000 had already registered.
What about superannuation?
Employers should proceed to pay the superannuation assure on common wages however it’s as much as employer whether or not they pay superannuation on extra job keeper funds.
For instance, a employee who ordinarily receives $1,000 a fortnight plus superannuation will obtain the $1,500 JobKeeper cost, with superannuation paid on the primary $1,000 and the employer capable of determine whether or not to pay it on the final $500.
Can I get the JobKeeper and different funds?
An individual receiving the JobKeeper cost can’t additionally obtain the JobSeeker cost (previously Newstart). Individuals who have already utilized for JobSeeker can withdraw and shift to job keeper funds if they’re re-engaged by their employer.
An individual can’t be in receipt of JobKeeper funds from two or extra employers.
What about eligibility for JobSeeker funds?
Eligibility has been expanded. In the intervening time, Australians out of labor aren’t eligible for the JobSeeker cost if their associate earns $48,000 or extra.
Beneath modifications made on Monday, folks might be eligible for job-seeker funds except their associate earns $79,762 or extra.
Does this require laws?
Sure. Morrison stated parliament will reconvene “as shortly as doable” with a smaller than typical sitting in Canberra, as occurred for the final stimulus package deal.