In summary, if the business has a turnover under $1 billion and this turnover has reduced by more than 30% due to the impact of the coronavirus (or 50% if over $1 billion), then each eligible employee will be entitled to a fortnightly payment of $1,500 before tax. The subsidy will commence from the 30/3/20 and be for a maximum of 6 months, with first payments being made in the first week of May.
An eligible employee is:
The payment is also available to businesses without employees, such as the self-employed.
To register your business visit:
https://www.ato.gov.au/general/JobKeeper-Payment/
If you have any further questions, please contact us at Mulcahy & Co to assist.
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