Under the JobKeeper Payment, businesses impacted by the Coronavirus will be able to access a wage subsidy from the Government to continue paying their employees.
Affected employers will be able to claim a fortnightly payment of $1,500 (before tax) per eligible employee from 30 March 2020, for a maximum of 6 months until 27 Sep 2020.
Sole traders will be eligible for the JobKeeper Payment if, at the time of applying, they:
- estimate their business turnover has or will fall by 30 per cent or more (assuming their turnover is less than $1 billion);
- had an ABN on or before 12 March 2020, and
either had an amount included in their assessable income for the 2018-19 year and it was included in their income tax return lodged on or before 12 March 2020 (or such later time as allowed by the Commissioner), or
made a supply during the period 1 July 2018 to 12 March 2020 and provided this information to the Commissioner on or before 12 March 2020 (or such later time as allowed by the Commissioner);
- were actively engaged in the business;
- are not entitled to another JobKeeper Payment (either a nominated business participant of another business or as an eligible employee);
- were aged at least 16 years of age as at 1 March 2020;
- were an resident for Australian tax purposes on 1 March 2020; and
- were an Australian citizen, the holder of a permanent visa, or a Special Category (Subclass 444) Visa Holder at 1 March 2020.
Businesses without employees will be eligible to receive one JobKeeper Payment, and businesses with employees can receive one payment in addition to the payments for their eligible employees. This means that:
- where the business operates through a sole trader structure – owner;
- where the business operates through a partnership – one partner;
- where the business operates through a company – one director;
- where the business has shareholders who provide labour to the company and receive dividends in lieu of wages – one such shareholder; and
- where the business operates through a trust – one individual beneficiary.
A business owner who is a permanent employee of another employer is only eligible for the JobKeeper Payment from that employer.