The Federal Government has announced its intention to pass the JobKeeper payment program which is designed to support employees and businesses affected by COVID-19. This is a long awaited stimulus measure that assists employers in retaining their workforce.

In summary, the proposal is for a wage subsidy, dubbed the JobKeeper payment, to be made to employers of $1,500 per fortnight per employee to help businesses retain workers through this period.

Key points for employers

• To be eligible and register, employers need to make a declaration that their revenue / turnover has dropped by at least 30% as a result of the current restrictions / COVID19 impact (businesses with $1 billion turnover need to declare a 50% reduction in turnover).
• The subsidy is a flat payment of $1,500 per fortnight, per employee. Aimed to cover part time, full time, casual workers and sole traders who have been in their role for 12 months or more.
• Subsidies available for a period of 6 months from 30 March 2020.

Due to the international and national context resulting due to Covid-19, and in line with new measures recently announced by the Chilean Government and the Ministry of Health, the decision have been made to postpone the Global Cherry Summit, which had been due to take place on April 23. This decision has been made in order to ensure the wellbeing of the participants and collaborators.

Visit the Global Cherry Summit website for updates...

Check out FAQs on the FWO website to find out about your workplace entitlements and obligations if you’re affected by the outbreak of coronavirus.

Increasing the Instant Asset Write-Off- The instant asset write-off threshold has been increased from $30,000 to $150,000 and expanded access to include businesses with aggregated annual turnover of less than $500 million (up from $50 million).

Boosting cash flow for employers- Provides $25,000 back to small and medium-sized businesses, with a minimum payment of $2,000 for eligible businesses. The payment will provide cash flow support to businesses with a turnover of less than $50 million that employ staff. The payment will be tax free.

Supporting apprentices and trainees- If you employ an apprentice or trainee you may be eligible for a wage subsidy of 50 per cent of their wage paid from 1 January 2020 to 30 September 2020. You can register for the subsidy from early April 2020.

The Instant Asset Write-Off (IAWO) Threshold- The higher IAWO threshold provides cash flow benefits for businesses that will be able to immediately deduct purchases of eligible assets each costing less than $150,000. The threshold applies on a per asset basis, so eligible businesses can immediately write‑off multiple assets.

For more information, you can contact: Paul Henderson from Ausindustry
03 5442 4199 or 0428 360 230, email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Visit the Australian Government Business website for further information...