How will the recently announced ‘JobKeeper’ payment affect me?

The current COVID-19 pandemic threatening not only people’s health but also their livelihoods. An estimated 1 million people are expected to lost their jobs due to the Government’s strict social distancing rules and the shutting down of businesses to ‘flatten the curve’. In an attempt to mitigate the damage workers across the country are facing, the Morrison Government announced a measure called the ‘JobKeeker’ payment. So what does this mean for employees?

What is the ‘JobKeeper’ payment?

The JobKeeper payment will be available to employers whose turnover has suffered and will provide them with a Government subsidy that enables them to continue remunerating their employees. Under this subsidy, eligible employers will be entitled to a fortnightly payment of $1,500 per employee for a maximum period of six months. For employers, this will mean they are able to continue paying their employees and they will be encouraged to maintain and re-engage in connection with their employees.

What does this mean for me?

Thankfully, this initiative will allow many employees to remain in employment and to receive an income until employers can return to business as usual. This will be the case even if your hours have been cut, you have been stood down, you have just been re-hired, or you are self-employed. Full-time, part-time and long-term casuals who have been employed on a regular basis for longer than one year as at 1 March 2020 are all eligible for this payment. Pursuant to the JobKeeper payment, the $1,500 payment will be passed on to you as the employee. The first payments are set to be received during the first week of May 2020.