To help Australia withstand and recover from the economic impact of Coronavirus (COVID-19), Prime Minister Scott Morrison has announced further government assistance, with a commitment totalling $130 billion over the next six months.
It includes the introduction of a JobKeeper Payment, which will see businesses receive $1500 per employee, per fortnight ongoing. Commencing 1 May, with payments to be back-dated from 30 March, the flat-rate payment equates to approximately 70 percent of the average wage and will help ensure many Australians remain employed during these otherwise uncertain times.
To be eligible for the JobKeeper initiative, the turnover for businesses must have decreased by 30 percent or more (50 percent if turnover is $1 billion or more). No threshold criteria applies in regard to size of business, and the money is available to fulltime and partime workers, casuals who have been employed by the business for at least 12 months and to sole traders, therefore all VACC members, including dealerships, are encouraged to take advantage of the government lifeline – especially those contemplating standing down staff as the COVID-19 situation develops.
VACC, along with its national body, the Motor Trades Association of Australia (MTAA), has been in dialogue with policymakers since the government's original announcement of COVID-19 relief packages, representing the interests of both small and large businesses in the automotive industry.
The Morrison Federal Government and Andrews Victorian State Government have taken the needs of small and large businesses very seriously, as well as the community at large – taking unprecedented but vital measures in order to keep Australia moving.
Businesses should register with the Australian Tax Office, which will be running the JobKeeper scheme.
JobKeeper fact sheet: Information for employers
Once further details are made available by the government, VACC will distribute key outcomes to members directly and via the VACC website.