The $130 billion JobKeeper Payment is designed to help keep Australians, including veterans and their families, in jobs as the nation deals with the significant economic impact of the COVID-19.
24 April 2020
The legislation was passed by the Australian Parliament before Easter.
The JobKeeper Payment is a wage subsidy program to support employees and business, and provides a minimum payment of $1,500 a fortnight before tax to all eligible employees including full-time, part-time and long-term casual staff. It includes staff who have been stood down or rehired.
The payment is made via employers who have signed up to the scheme and employees will receive a minimum of $1,500 a fortnight before tax regardless of their normal earnings.
The JobKeeper Payment will support employers to maintain their connection to their employees. These connections will enable business to reactivate their operations quickly — without having to rehire staff — when the crisis is over. For employees, this means they can keep their job and earn an income.
To be eligible for the JobKeeper Payment, the business must have experienced a drop in turnover of between 30 and 50 per cent depending on the size of its operations.