06 Apr 2020
The coronavirus outbreak has lead to a range of government financial assistance being released to help Australians deal with this crisis financially. We’ve outlined the various assistance opportunities relevant to flooring employers below. We will update this page as changes to legislation occur in coming weeks.
What is the JobKeeper payment?
If your business is suffering a 30% downturn in turnover as a result of the Coronavirus you could be entitled to the following JobKeeper Payment. This is a subsidy from the government to help these businesses continue to pay their employees. Affected employers will be able to claim a fortnightly payment of $1500 per eligible employee from 30th March 2020, for a maximum period of 6 months.
Which employers are eligible for the JKP?
Employers of staff and apprentices could be eligible for the JobKeeper subsidy, if their business has experienced the required downturn to be eligible.
Employers will be eligible for the subsidy if:
Read more about eligible employers in the Treasury Fact Sheet.
As a business, what do I need to do to get JKP?
For an employer to receive the JobKeeper payment, they must:
What does ‘eligible employee’ mean?
Eligible employees are employees (including apprentices) who:
How much will eligible employers need to pay employees? What about superannuation?
The JKP is a flat $1,500 per fortnight paid, in the first instance, to eligible employers for each of their eligible employees.
For an eligible employee who continues to work and who, in the absence of the JKP, would be entitled to a wage of at least $1,500 per fortnight:
For an eligible employee who continues to work and who, in the absence of the JKP, would be entitled to a wage of less than $1,500 per fortnight:
More information can be found on the JobKeeper fact sheet.
CASH FLOW ASSISTANCE
There is also Cash Flow assistance available for employers including cash wage subsidies for apprentices.
This could mean you are eligible to receive cash injections up to $50,000 to cover:
Even if your Business is not experiencing a 30% downturn Employers can register for the Apprentice Wage Subsidy from 2 April 2020. If you haven’t received an email regarding this subsidy and you think you are eligible, you need to contact your Australian Apprentice Support Network provider to register and final claims for payment must be lodged by 31 December 2020.
BUSINESS SUPPORT FUND
In addition, the Victorian Government has launched the $500 million Business Support Fund to help small businesses survive the impacts of the coronavirus (COVID-19) pandemic and keep people in work. This is different to the SAT Wage Subsidy, and it’s also different from the JobKeeper Fund which will be administered by the ATO. This Business Support Fund is managed by the Victorian Government.
If employers have any questions about this Fund they must contact 13 22 15.
Businesses are eligible to apply for a grant through the Fund if they meet the following criteria: