The Australian government has taken a great initiative of job keeper payment, to support Australian businesses and the Australian Economy by securing jobs. Through this great initiative, Australian jobs will be secured as govt will be paying for employees of all business including sole traders $1500 per fortnightly. There is no strict eligibility except it is only for business affected 30% or more drop in Sales, compared to last year in these months.
Other eligibility does apply to test and make sure Money can be beneficial for Australian in the Best way.
Employers are eligible for the JobKeeper payment if all of the following apply:
- On 1 March 2020, you carried on a business in Australia or were a not-for-profit organization that pursued your objectives principally in Australia.
- You employed at least one eligible employee on 1 March 2020.
- Your eligible employees are currently employed by your business for the fortnights you claim for (including those who are stood down or re-hired).
- Your business has faced either a:
- 30% fall in turnover (for an aggregated turnover of $1 billion or less)
- 50% fall in turnover (for an aggregated turnover of more than $1 billion), or
- 15% fall in turnover (for ACNC-registered charities other than universities and schools)
Eligible Employers need to pay only to eligible Employees as described in Job keeper scheme.
In addition to being Australian Citizen, Permanent Resident or NZ citizen, an Employee may be eligible if at 1 March they were either:
- full-time, part-time or fixed term
- a long-term casual that you employed regularly for at least 12 months
Employer must pay eligible employees payment in one month beforehand to receive a refund in the following month and must report before the 14th of following month sales and payment made to employees in previous months.