Coronavirus and the Law: JobKeeper payment

The key component of the Federal Government's business support package in response to the Coronavirus is the JobKeeper payment.  This payment provides a $1,500 per fortnight, per employee wage subsidy to employers for a period of up to six months.  The estimated cost of this measure is $130 billion.

What are the key eligibility requirements?

• Business turnover must fall by 30%: In order to be eligible for the payment, the turnover of the business must fall by 30% as compared to the same time last year. In order to register for the scheme, a business must self assess that it has had or will have the necessary decline in turnover.  A 50% turnover decline is required for businesses with revenue of $1 billion or more.