Wages

JobKeeper Payments

The Government has just announced it’s third stimulus package update in response to the coronavirus outbreak.

A wage subsidy will be available to eligible businesses and not-for-profit entities who can demonstrate a loss in revenue of 30 per cent or more when compared to the relative period a year ago. Businesses with a turnover of $1 billion or more would need to demonstrate a loss in revenue of 50 per cent.

The subsidy would include a payment of $1,500 per fortnight for each eligible employee for a period of 6 months maximum. Eligible employees are those that were employed by the business from 1st of March 2020, including those that have been stood down and sole traders. They also have to be employed under a full-time, part-time or long-term casual contract and be over 16 years of age.

If a business receives this subsidy then they must pay at least $1,500 to the employee (before tax) each fortnight. Examples below.

  • If an employee usually receives $1,000 per fortnight (before tax) then the business would now pay them $1,500 per fortnight (before tax)
  • If an employee usually receives $2,000 per fortnight (before tax) then the business would continue to pay that amount to them
  • If the business operates as a sole trader without employees and they can demonstrate a 30 per cent loss in revenue then they would receive $1,500 per fortnight

You can register your interest with the ATO by clicking on the below link. Once parliament has passed this new package, the ATO will contact you to make arrangements for the application and information required.

https://www.ato.gov.au/general/gen/JobKeeper-payment/

Get set for a 3.0% increase to base pay rates

The Fair Work Commission have made new changes to minimum wages with a 3.0% increase after the 2019 Annual Wage Review.

The increase will apply to base pay rates starting on or after the 1st of July 2019.

The increase will only apply to employees that are on the national minimum wage or covered by a modern award.

If you have any further questions regarding this please do not hesitate to contact the office on (07) 41790106.

https://www.fairwork.gov.au/emails/website/get-set-for-a-3-increase-to-base-rates-of-pay?g=ad5a748e-fef3-4ba7-8839-6ea3b5ad3de3 

Wage Theft is Now a Criminal Offence!

Wage theft is now a criminal offence! Employers who are deliberately under paying staff could find themselves in jail. Wage theft includes the following: underpayment of wages, unpaid super, unpaid penalty rates, unauthorized deductions from pays, the misuse of ABNs and sham contracting. Please see the below link for more information.

https://mysunshinecoast.com.au/news/news-display/government-supports-making-wage-theft-a-criminal-offence,58239

Are you engaging in wage theft or are unsure if you are? Please do not hesitate to contact our office for a wage review on 4179 0106.

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