An employer’s guide to developments in Enterprise Bargaining
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Coronavirus update: Australian Government announces $130 billion ‘JobKeeper’ wage subsidy
March 31, 2020In response to the significant economic and social impact from the coronavirus, the Federal Government has launched the ‘JobKeeper’ scheme – a $130 billion initiative which encourages employers to keep Australian employees in jobs. Prime Minister Scott Morrison said: “We will give millions of eligible businesses and their workers a lifeline to not only get through this crisis but bounce back together on the other side.” “This is about keeping the connection between the employer and the employee, and keeping people in their jobs even though the business they work for may go into hibernation and close down for six months,” he said. What does this mean for businesses? The scheme will operate as a wage subsidy to be paid by the Australian Tax Office (ATO) directly to employers of $1500 per fortnight for each eligible employee. The payments will cover a six-month period from 30 March 2020, with the first payments to be made in May and backdated. Employers will be eligible for the subsidy if: their business has a turnover of less than $1 billion and their turnover will be reduced by more than 30 per cent relative to a comparable period a year ago (of at least a month); or...
