- 1 What is JobKeeper and how does it work?
- 2 What qualifies you for JobKeeper?
- 3 How does a JobKeeper payment work?
- 4 How much do you get on JobKeeper?
- 5 Who is not eligible for JobKeeper?
- 6 How do I get paid by JobKeeper?
- 7 Can I get JobKeeper and still work?
- 8 Who is eligible for JobKeeper payments?
- 9 Can you have 2 jobs on JobKeeper?
- 10 Will I have to pay back JobKeeper?
- 11 Is JobKeeper paid monthly?
- 12 Does Job keeper affect pension?
- 13 What happens if you earn more than JobKeeper?
- 14 Do I get super on JobKeeper?
- 15 Does JobKeeper affect tax return?
What is JobKeeper and how does it work?
On 30 March 2020, the Federal Government announced the introduction of the JobKeeper Payment. The payment is a wage subsidy paid by the Government to businesses significantly impacted by the Coronavirus. This allows employers to continue paying their employees whether they are able to work or not.
What qualifies you for JobKeeper?
Eligible employers must pay eligible employees a minimum of $1,500 (before PAYG withholding) per fortnight (from 30 March 2020) in order to be eligible for the JobKeeper Payment. If the employee has not been paid this minimum amount a ‘top-up’ payment will be required to be made.
How does a JobKeeper payment work?
The JobKeeper Payment acts as a subsidy. If an employee ordinarily receives less than $1,500 in income per fortnight before tax, their employer must pay their employee a minimum of $1,500 per fortnight, before tax.
How much do you get on JobKeeper?
How much is the JobKeeper Payment? The JobKeeper payment is $1500 per fortnight before tax. This is a flat rate whether you work full time or part time. Casual workers who have been employed for longer than 12 months are also eligible to receive the $1500 payment.
Who is not eligible for JobKeeper?
An employer is not entitled to the JobKeeper payment if any of the following apply: the Major Bank Levy was imposed on the entity or a member of its consolidated group for any quarter before 1 March 2020. the entity is an Australian government agency (within the meaning of the Income Tax Assessment Act 1997)
How do I get paid by JobKeeper?
To be eligible to receive the JobKeeper Payment from your primary employer, you must be a permanent employee of that employer and if you are a long-term casual, not a permanent employee of any other employer. The ATO will provide guidance on how to determine your primary employer.
Can I get JobKeeper and still work?
You can obtain additional employment (casual, part-time, full-time or fixed term) and continue to be employed and paid JobKeeper by your casual employer. This is because the scheme was designed to allow you to earn additional income and still get JobKeeper support through your eligible employer.
Who is eligible for JobKeeper payments?
Eligible employees: Were employed by an eligible employer at 1 March 2020. Can be sole traders, full-time, part-time, or long-term casuals employed on a regular basis for longer than 12 months as at 1 March 2020. Are at least 16 years of age, but those aged 16 or 17 must be financially independent to qualify.
Can you have 2 jobs on JobKeeper?
Yes – you can earn additional income and claim JobKeeper through your original employer as long as you maintain your employment with them.
Will I have to pay back JobKeeper?
Eligible businesses that received JobKeeper payments do not need to repay those amounts. However, some businesses may choose to voluntarily repay an amount. Voluntary repayments do not reduce the amount of JobKeeper a business received.
Is JobKeeper paid monthly?
Monthly pay frequencies: $1200 for each full JobKeeper fortnight within the month. This will be $2400 for each month except August, which includes 3 JobKeeper fortnights. The employer may choose to apply $2600 each month as an average or alternatively apply $2400 per month except for August which would be $3600.
Does Job keeper affect pension?
Will the JobKeeper Payment affect your Disability Support Pension? Yes, the JobKeeper Payment will affect your DSP. You might get less money in your DSP. But you might get more money in total each fortnight.
What happens if you earn more than JobKeeper?
If your eligible employees earn more than the JobKeeper amount per fortnight, you should continue to pay them their regular salary or wages. However, you will only receive the JobKeeper amount for each eligible employee.
Do I get super on JobKeeper?
Eligible employees must receive, at a minimum, $1,500 per fortnight, before tax, and employers are able to top-up the payment. But, you can decide if you want to pay superannuation on any additional wages paid because of the JobKeeper Payment.
Does JobKeeper affect tax return?
JobKeeper payments Income statements can be accessed via your myGov account and the information is automatically pre-filled in tax returns by the end of July. Sole traders that have received JobKeeper payments on behalf of their business will need to include the payments as assessable income for the business.