COVID-19 JobKeeper Update

Employers with an annual turnover of less than $1 billion that have experienced a 30 per cent fall in revenue since March 1 will be eligible for the wage subsidy.

Sole traders, self-employed people, partnerships and trusts will also be eligible.

The wage subsidy will include not-for-profit employees and New Zealanders who work in Australia but are typically unable to access welfare programs.

Part-time workers and casuals with at least one year in their job can receive the payment, which is slated to start flowing in early May.

It will also be backdated to include anyone who has been stood down due to coronavirus. However, a person can not receive both the JobSeeker and JobKeeper payments.

The Australian Tax Office will oversee the payment and has already created a website for companies to register interest in the JobKeeper program.

Treasurer Josh Frydenberg said the JobKeeper scheme would benefit the hardest-hit sectors.

"This $1,500 payment is a flat payment and is the equivalent of around 70 per cent of the median wage and represents about 100 per cent of of the median wage in those sectors most heavily impacted by the coronavirus like retail, like hospitality and tourism," he said.

The Prime Minister also announced changes to the income test for people on the JobSeeker payment, meaning their partners could earn almost $80,000 a year before they were ineligible for the payment.

Click here for more details - THE JOBKEEPER PROGRAM