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On Monday 30 March 2020, Australian Prime Minister Scott Morrison announced further government assistance to employers in the form of a ‘JobKeeper Payment’.  The support is designed to help businesses keep on current or recently ‘stood down’ employees.

The amount payable is $1500 per fortnight per employee.

Key points for employers:

  • Business revenue must have declined by at least 30% during a period (at least a month) this year, compared to the same period last year
  • For business with turnover of less than $1 bn
  • Reimbursement will be tracked via Single Touch Payroll system
  • Payments begin from 30th March 2020, although legislation hasn’t passed yet as at 31st March 2020
  • No superannuation guarantee levy on payment
  • Available to full and part time workers and where casuals – those who have been with their employer for 12 months or more

If you need help navigating all the assistance available to businesses, including bank loans, rent relief, instant asset write off, cash flow boost and temporary relief for financially distressed businesses, please book to arrange a complimentary call, where we can answer your questions and discuss your best options.

Download an Australian Government Fact Sheet on the JobKeeper payment for more details.

By Sue Hirst Co-Founder CFO On-Call

Sue was managing an accounting practice when she co-founded the business in 1991. She has expertise in financial management, product and service development and human resource management.

Sue is passionate about explaining accounting concepts in clear English so business owners can make sense of their own numbers.

Learn more about CFO On Call