For employers to be able to take advantage of the JobKeeper payment, there are a few eligibility criteria that have to be met.
- The first condition applies to businesses with annual turnover below $1 billion, which must have experienced a reduction in turnover of more than 30% relative to a comparable period 12 months ago.
- Tip: Practically, this means comparing the monthly turnover for the same month in the previous financial year, and determining whether the turnover has decreased by 30%.
- Those businesses with annual turnover greater than $1 billion must have experienced downturn of greater than 50% due to COVID-19 to be an eligible employer. This is relevant for large business groups/listed companies.
- It is also worth noting that businesses which are subject to the major bank levy (e.g. certain banks / financial institutions) will be ineligible for the JobKeeper Payments.
- This is an ongoing test, so if the above conditions are not satisfied then please reassess on a monthly basis in case your circumstances / eligibility change.
- Please note that some businesses and specific employees are excluded from JobKeeper payments, subject to the disclaimers set out in the attached calculator.