The JobKeeper Payment
The JobKeeper Payment is the Governments latest initiative to combat the economic downturn being caused by the Coronavirus. Hot on the heels of the Governments Cash Flow Boost, this unprecedented assistance package is designed to keep active business solvent during the CoVID-19 lockdown, and inactive businesses connected with their staff so they are ready to rebound as soon as the lockdown passes.
What follows is a summary on the JobKeeper Payment subsidy. Stay tuned for more updates, we will provide a simple to understand explanation for you as measures are introduced.
- The JobKeeper Payment Subsidy
Treasurer Josh Frydenberg has said that the key economic objective of the government during the COVID-19 lockdown is to keep employers and employees formerly connected and the JobKeeper Payment is the most recent and largest initiative the government has launched so far
- Eligibility for Employers
The Job Keeper Payment entitles any business that stays active and experiences a downturn of more than 30% in at least one month, to a flat $1500 per fortnight payment for any employee listed on their books at the 1st of March.