ACAPMA Alert | Wage Subsidy: What you need to know
One more day down and another government announcement, this is a big one $130b Wage Subsidy. Elisha from ACAPMA has done an outstanding summarized for us, with all the links to the detail.
Again, I would like to thank Elisha and ACAPMA for keeping us informed and also being such a strong voice for our industry.
Keep Sale, Keep Strong Keep Calm but most of all keep positive.
Wage Subsidy: What you need to know
Further to the Prime Ministers announcement this afternoon regarding the Wage Subsidy, ACAPMA is currently working through the detail and will issue more definitive advice soon, but the below is offered as initial guidance and information
COVID-19 Wage Subsidy Key Points
- $ 1,500 per fortnight per person,
- Available to Permanent Staff (includes permanent part time)
- Available to Casual Staff (who have been on payroll for 12 months)
- Available to all staff on a businesses payroll as at 01 March 2020
- Not means tested for staff at all
- Will be available to all businesses who have under a $1billion turnover and have experienced at least a 30% downturn (businesses over $1billion turnover will need to demonstrate a 50% downturn)
- Will be paid from the ATO to the business during the first week of May 2020
- Payment will be backdated (inclusive) to 01 March 2020
- Will be available to people who have left the business, this can be backdated (resignation/termination)
Any business who has made staff redundant and wishes to utilise this measure to reverse the redundancy should be aware that unprecedented allowance for this have been made, however there are likely to be detailed steps to be taken, members wishing to explore this should contact ACAPMA
ATO website for employers to register interest:
ACAPMAs Employment Professionals are digesting this information now and will update with further guidance shortly.
ACAPMA Consolidated COVID-19 Articles and Resources (updated daily)
- For general information on the situation and the implications for employing staff, including new sections on Payments and Leave, and considerations around business downturn see; https://acapmag.com.au/2020/03/hr-highlight-managing-covid19-risk-in-the-workplace/
- For information and resources on Keeping Customers and Staff Safe instore from a practical standpoint see; https://acapmag.com.au/2020/03/hr-highlight-covid-19-keeping-customers-and-staff-safe/
- For practical guidance on achieving Social Distancing in Retail, including guides and posters see; https://acapmag.com.au/2020/03/safe-distancing-in-retail-maximum-vs-practical-limits-and-communications-to-customers/
- For information on Boarder Closures see; https://acapmag.com.au/2020/03/border-restrictions-what-you-need-to-know/
STAY UP TO DATE
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The Employment Team