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COVID-19 - Latest update 31 March 2020

COVID-19 - Latest update 31 March 2020

Aegis Business Services is here to support you!

Yesterday’s announcement came as music to so many ears the Australian Government has recognised the one group that has been previously missed – Businesses with no employees. Below are the details you need to know but please note - Legislation is still to be passed through Parliament so it is not law yet. And also not to be forgotten, businesses with employees also now have an opportunity to stay connected with their employees during this downturn by offering them assistance.

JobKeeper Payments

JobKeeper Payments for the Employers

This is for businesses impacted by the Coronavirus to allow them access to a subsidy from the Government to continue paying their employees or to support businesses with no employees.

Points to Note:

  • Includes Not-for-profits, charities and businesses without employees
  • Turnover must have dropped by more than 30% due to COVID-19
  • Employment of employees had to be in place as at 1 March 2020
  • Maximum $1,500 per fortnight available for 6 months period
  • Employer must register for this (link below) and notify all eligible employees
  • Also applies to employees who have been stood down since 1 March 2020.

Register at: https://www.ato.gov.au/general/gen/JobKeeper-payment/?=redirected_JobKeeper 
Fact Sheet: https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_Info_for_Employers_0.pdf 

JobKeeper Payments for the Employees

Employers will register for the JobKeeper payment as a business and on behalf of their employees. Most employees will not need to do anything further.

Eligible employees will receive a minimum of $1,500 per fortnight, before tax. It will be up to the employer if they want to pay superannuation on any additional wage paid because of JobKeeper Payments.

Full time and part time employees, including stood down employees, would be eligible for the JobKeeper Payment. Where a casual employee has been with their employer for at least the previous 12 months they will also be eligible for the Payment.

Fact Sheet: https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_Info_for_Employees_0.pdf

Please remember that we are here to support you and guide you as much as possible through this uncertain future we are all facing

The Team at Aegis Business Services

Ready to make a change?

 Call 07 3207 1030