JobKeeper Subsidy

Another development in the fight to keeps businesses afloat:

This time around, the government has released a subsidy program called the JOBKEEPER program.

This is mainly designed to assist employers / sole traders cover the costs of their wages.

Eligibility Criteria for small businesses just like yours:

– Turnover of less than $1 Billion per annum
– The turnover of your business is REDUCED BY MORE THAN 30% relative to a comparable period a year ago
(This period is at least a month )

Eligible employees:

– Full time / Part Time / long term  casuals / stood down employees
– Casual employees eligible if they have been with the employer on a regular basis for the previous 12 months as of 01 March 2020
– Employee Immigration status: Only those that are Australian citizens, Permanent resident visa holders, New Zealanders with 444 visa, special category visa holder residing in Australia continually for 10 years or more
– Re-engaged employees who were employed with the same employer on 01 March 2020
– SELF EMPLOYED individuals will be eligible to receive the jobseeker payment where their income has reduced over 30% compared to a prior year (period being at least one month)

The Process:

In order to receive the subsidy you must:
– elect to participate in the scheme by completing an expression of interest here https://www.ato.gov.au/general/gen/JobKeeper-payment/?=redirected_JobKeeper
– You will be required to :

  • provide supporting information to demonstrate the downturn on your business
  • Report the number of eligible employees employed by the business on a monthly basis going forward.

The Payment:

– Eligible employers will receive a payment of $1,500 per fortnight PER EMPLOYEE FOR UP TO 6 MONTHS
– The payment is the wages BEFORE Tax
– You are able to top up the payment to your employees
– You will receive these payments a month in arrears
– It will be up to you as employer if you want to pay superannuation on any additional wage paid because of the Jobseeker payment.

If you have any questions regarding the above, please contact us immediately
We will be glad to assist in these difficult times

The team at KARDIA GROUP