$1,500 Per Fortnight "Job-Keeper" Program: $130 Billion Wage Subsidy - 30th March 2020
Updated: Mar 31, 2020
The Prime Minister has unveiled a $130 billion economic "lifeline" package aimed at preserving jobs.
The first measure is a "job keeper" payment, which is a wage subsidy extended to employers who keep on their employees, amounting to $1,500 per employee per fortnight.
The measure is intended to last for six months.
The subsidy is around 70 per cent of the median adult wage, and 100 per cent of the median adult wage in heavily hit sectors such as retail and hospitality.
Payments will also apply to sole-traders and casuals who have been with their employer for 12 months.
"The subsidy is around 70 per cent of the median adult wage, and 100 per cent of the median adult wage in heavily hit sectors such as retail and hospitality."
The payment will apply to companies that have seen a 30 per cent reduction in revenue. Payments will start to be issued in the first week of May, and will be backdated to today.
The program will be administered through the ATO, which means that employers and employees will not have to go through CentreLink to access the funds.
"The payment will apply to companies that have seen a 30 per cent reduction in revenue."
This will apply to employees who were on the books on March 1, which means that worker who have been stood down or even entrenched after that time may be eligible.
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