Support for individuals

We’ve summarised the latest Government Coronavirus Support offerings for individuals experiencing reduced hours or job losses over the next 6 months.

JobKeeper payment - $1,500 per fortnight

Who pays: ATO → Employer → Recipient

Start Date: 1 March 2020

Duration: 6 months

Who is eligible: All full-time and part-time employees (irrespective of length of employment). Casuals who have been with the employer for more than 12 months. Employees who have been stood down or terminated since 1 March 2020, and subsequently rehired.

Means tested: No

Comments: Payments subject to PAYG withholding, Super Guarantee required on amounts equivalent to employee’s pre-COVID-19 ordinary earnings, first payment made by ATO to employers in May. Seems employees need to be paid in the ordinary pay cycles and that the ATO will reimburse employers in arrears? Mechanics have not yet been announced. Casual employees will only receive JobKeeper payments if they have been with the employer for at least 12 months. Minimum payment of $1,500 per employee even for those who earn less than this.

See the Treasury Fact Sheet here:

https://treasury.gov.au/sites/default/files/2020-03/Fact_sheet_Info_for_Employees_0.pdf

JobSeeker payment - Base rate + $550 Coronavirus supplement

Who pays: Centrelink -> Recipient

Start Date: Date of application

Duration: 6 months

Who is eligible: https://www.servicesaustralia.gov.au/individuals/services/centrelink/jobseeker-payment/who-can-get-it

Means tested: Yes, but with relaxed or removed thresholds https://www.servicesaustralia.gov.au/individuals/services/centrelink/jobseeker-payment/how-much-you-can-get/income-and-asset-limits

For details on base rate - https://www.servicesaustralia.gov.au/individuals/services/centrelink/jobseeker-payment/how-much-you-can-get

Comments: A single JobSeeker with no children should receive $1,115.70 per fortnight. Required to report income to Services Australia to receive payments.

We will be releasing a summary of the Government Coronavirus Support offerings for businesses shortly.