The proposed JobKeeper Payment
IF YOUR BUSINESS TURNOVER IS LESS THAN 1 BILLION AND YOU HAVE EMPLOYEES, YOU CAN GET WAGE SUBSIDY FROM THE GOVERNMENT. Please read below to understand how the wage subsidy scheme works. We are not discussing here how the scheme works for business with more than a billion in turnover. The Government intends to introduce legislation into Parliament to give effect to the JobKeeper Payment measure and we will get finer details after the legislation is finally approved. What is Wage Subsidy? · If there is a downturn in your business of more than 30% then · you can claim $1500 per fortnight per eligible employee for 6 months commencing from 30 th March 2020. · But you must keep the eligible employee employed and pay him minimum $1500 per fortnight (even though his actual salary was less than $1500) or his normal salary if the normal salary is more than $1500 per fortnight (This is yet to be clarified by the Government if the normal salary can be redu