9th May 2020 | Business
JobKeeper wage subsidy payments start flowing to 4.7 million workers
More than 728,000 businesses have signed up to the $130 billion program, covering 4.7 million employees.
Government figures show 40 percent of businesses to sign up for JobKeeper are sole traders, 39 percent are companies, 15 percent are
trusts and 6 per cent are partnerships.
The wage subsidy is a flat-rate payment that employers must pass on to their employees in full. The $1,500 fortnightly payment will be paid for six months. Casual employees will have to have at least one year in their job to receive the payment.
Employers with an annual turnover of less than $1 billion that have experienced a 30 per cent fall in revenue since March 1 are eligible for the wage subsidy.
Companies with an annual turnover of more than $1 billion have to have a 50 per cent fall in revenue to be eligible for the scheme. Businesses subject to a major bank levy are ineligible.
Sole traders, part-time workers, not-for-profit employees, self-employed people, partnerships and trusts are also eligible, as are New Zealanders who work in Australia but are typically unable to access welfare programs.
Retrieved from https://www.abc.net.au/news/2020-05-06/jobkeeper-coronavirus-payments-start-for-5-million-workers/12218718
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