The Australian Federal Government launched the JOB KEEPER Payment program on 20 April 2020. Therefore, businesses seeking financial assistance to pay employees should enroll through their accountant or tax agent as soon as possible. Since enrollment began on 20 April 2020, acting quickly is crucial.
How EndureGo Tax Can Help
At EndureGo Tax, we specialize in processing this payment and work closely with businesses to secure financial support. Our team ensures a smooth and efficient enrollment process.
Payment Amount and Duration
Eligible employees receive $1,500 per fortnight for six months. Notably, this amount represents about 70% of the Australian national median wage. Moreover, the JOB KEEPER Payment exceeds the JOB SEEKER payment by $400, as JOB SEEKER provides $1,100 per fortnight for unemployed individuals.
Employee Eligibility Requirements
To qualify, employees must meet the following criteria:
They must have been employed by the business as of 1 March 2020.
They must be full-time permanent, part-time permanent, or long-term casual (regular and systematic for over 12 months).
They must be at least 16 years old.
They must be an Australian citizen, an Australian Permanent Resident visa holder, or a protected special category visa holder (Visa 444).
Enrollment Process for Employers
Once employers enroll, they must send the “Employee Nomination Form” to employees for signing and return. To qualify, businesses must demonstrate a revenue decline:
A 30% decrease for businesses with total aggregated sales under $1 billion.
A 50% decrease for businesses with total aggregated sales over $1 billion.
Furthermore, businesses can compare revenue using monthly or quarterly figures. Since selecting the correct timeframe is crucial, we will provide a detailed guide on turnover comparison in our next article.
Payment Clarifications
If employees previously earned less than $1,500 per fortnight, they will now receive the full amount. As a result, some employees may earn more than before. However, employers must ensure they pay at least $1,500 per fortnight to remain compliant.
Act Now to Secure Your Payment
Given the importance of this program, businesses should act quickly. Contact our professional accountants at 0410-829-900 for assistance with enrollment and processing.
Support for Sole Traders and Partnerships
In addition, sole traders and partnerships can also apply. If your sales have dropped by 30%, call us at 0410-829-900 for guidance. Our team will help you navigate the process and secure your financial support efficiently.
