Ideas Tax Knowledge Blog

Common questions associated with the JobKeeper Scheme

Written by Ideas Group | Apr 18, 2020 10:00:11 AM

 

Question 1: Do businesses have to keep proving their turnover is down to get JobKeeper?

Answer: Nope. Once a business shows its turnover has dropped enough to qualify for JobKeeper, it doesn't need to keep proving it each time. If a business can prove its turnover dropped by at least 30% (or 50%, depending), it's good to go, even if things improve later.

Question 2: What if a business expects its turnover to drop soon, but it hasn't yet?

Answer: If a business expects its turnover to drop by 30% or more (or 50% in some cases), it can still apply for JobKeeper. Even if it didn't qualify by March 30, 2020, it can start getting JobKeeper once its turnover drops enough. But it won't get paid back for any missed time.

Question 3: Do employers have to keep paying their workers to get JobKeeper?

Answer: Yes. Employers have to pay each eligible employee at least $1,500 for each JobKeeper pay period. This money can be salary, wages, tax withheld, super contributions, or other payments made for the employee. If a business doesn't have enough money, they can ask their bank to use their expected JobKeeper payment as security for a short-term loan to pay employees.