The Federal Government has announced a third stimulus package to encourage businesses to retain employees throughout the Covid-19 crisis.
The package includes a JobKeeper subsidy payment for businesses, sole traders, businesses without employees, not for profits and charities that experience a decrease of at least 30% of their turnover relative to a comparable period a year ago (of at least a month).
The payment will be made to employers at a flat rate of $1,500 a fortnight from 30 March 2020 for all employees employed at 1 March 2020.
UAC accountant and business service member WLM Financial has released a blog that contains more details on what’s available – click here to read it.
More information is also available in a factsheet from Treasury.