Third Stimulus Package – JobKeeper Payment
What does this mean for your service?
The Commonwealth Government released its Third Stimulus Package in response to the COVID-19 pandemic this afternoon.
The centrepiece is a $130 billion measure over 6 months to provide wage subsidies to businesses, including not-for-profits, that are significantly affected by COVID-19. The JobKeeper payment will be a flat $1,500 per full-time or part-time employee employed as at 1 March 2020. Casual employees who have been employed for at least 12 months as at 1 March 2020 will also be eligible.
Employers will be able to reemploy employees who were on the books as at 1 March 2020 but who have since been dismissed due to the COVID-19 pandemic.
- To be eligible, businesses will need to have suffered a 30% or greater fall in turnover due to the COVID-19 pandemic.
- Payments will commence from 1 May 2020 backdated to 30 March 2020.
- Employers will apply through the ATO to register themselves and their employees.
- The ATO will also be using the Single Touch Payroll system to ensure compliance by employers in passing the JobKeeper payments to their employees.
CCSA is awaiting further information including:
- How will the fall in turnover be measured, and against what baseline?
- Taxation arrangements
Once the fine detail of the measure is available, CCSA will release further information through our COVID-19 webpages, on Facebook and by webinar, including practical information on eligibility and implementation of JobKeeper in early childhood education and care services.
In the meantime, services can register with the ATO to receive JobKeeper updates at https://www.ato.gov.au/general/gen/JobKeeper-payment/.
Please contact the Member Support Infoline on (02) 4782 1470 or 1800 991 602 (option 2) if you need further information and support.