The Coalition Government’s new JobKeeper wage subsidy will deliver essential assistance for workers in the Parkes electorate at a time when it is needed most, according to Federal Member Mark Coulton.
Mr Coulton said the subsidy directly addresses concerns he has heard from small business owners and operators, as well as local employees in his electorate during recent weeks.
“This subsidy will support around six million workers around the country who will receive a flat payment of $1,500 per fortnight through their employer, before tax,” Mr Coulton said.
“We know that COVID-19 is having a significant flow-on impact on our local economy – I’ve been speaking with local small business and local workers on a regular basis about some of their challenges.
“The $130 billion JobKeeper payment helps to alleviate some of those concerns, by supporting those in work so that we can keep our wheels in motion as much as possible as the COVID-19 pandemic continues.
“These are difficult times but I’d like to remind everybody that we all have a role to play right now in slowing the spread of the virus.
“This includes heeding the advice from health authorities and practising excellent hygiene, social distancing and self-isolation where necessary.
“By working together on these simple practices, we will achieve the best possible outcome.”
Mr Coulton said the JobSeeker payment is open to eligible businesses that have been significantly impacted by the coronavirus, and will provide the equivalent of around 70 per cent of the national median wage.
“For workers in the accommodation, hospitality and retail sectors it will equate to a full median replacement wage,” he said.
“This payment will give working Australians their best chance of keeping their job and keeping them connected to their employers as we progress through these extremely challenging times.”
Eligible businesses can apply for the payment online and are able to register their interest via ato.gov.au
JobKeeper Payment – Background
The JobKeeper Payment is a subsidy to businesses, which will keep more Australians in jobs through the course of the coronavirus outbreak.
The payment will be paid to employers, for up to six months, for each eligible employee that was on their books on 1 March 2020 and is retained or continues to be engaged by that employer.
Where a business has stood down employees since 1 March, the payment will help them maintain connection with their employees.
Employers will receive a payment of $1,500 per fortnight per eligible employee. Every eligible employee must receive at least $1,500 per fortnight from this business, before tax.
The program commenced 30 March 2020, with the first payments to be received by eligible businesses in the first week of May as monthly arrears from the Australian Taxation Office. Eligible businesses can begin distributing the JobKeeper payment immediately and will be reimbursed from the first week of May.
Eligible employers will be those with annual turnover of less than $1 billion who self-assess that have a reduction in revenue of 30 per cent or more, since 1 March 2020 over a minimum one-month period.
Employers with an annual turnover of $1 billion or more would be required to demonstrate a reduction in revenue of 50 per cent or more to be eligible. Businesses subject to the Major Bank Levy will not be eligible.
Eligible employers include businesses structured through companies, partnerships, trusts and sole traders. Not for profit entities, including charities, will also be eligible.
Full time and part time employees, including stood down employees, would be eligible to receive the JobKeeper Payment. Where a casual employee has been with their employer for at least the previous 12 months they will also be eligible for the Payment. An employee will only be eligible to receive this payment from one employer.
Eligible employees include Australian residents, New Zealand citizens in Australia who hold a subclass 444 special category visa, and migrants who are eligible for JobSeeker Payment or Youth Allowance (Other).
Self-employed individuals are also eligible to receive the JobKeeper Payment.