JobKeeper scheme legislation achieves royal assent
Legislation to establish the JobKeeper scheme of wage subsidies in the form of payments made via employers has passed both houses of Parliament and has achieved royal assent.
The bills concerned (the Coronavirus Economic Response Package (Payments and Benefits) Bill 2020 and the Coronavirus Economic Response Package Omnibus (Measures No. 2) Bill 2020) also amend the Fair Work Act 2009 to support the practical operation of the JobKeeper scheme, as well as other measures including the guarantee of lending to small and medium enterprises, and consequential amendments.
We now await the legislative instrument to be issued by the Treasurer that set’s out the details of how the JobKeeper package works in detail.
We are also waiting for a major change to the ATO website that will give in-depth details of how the ATO will administer all of the government’s stimulus packages, including its attitude towards the application of the anti-avoidance provisions.
The details of eligibility for particular payments as well as the amount of payments and the time when they are to be paid will be set out in the rules made by the Treasurer, so that arrangements can be modified appropriately in response to the impacts of COVID-19.
Wishing all our clients and your families a very safe and restful Easter. Salisbury Accountants & Business Advisors will be back on deck and available to help you from next week so please contact us or phone us on 02 6041 3014 for any JobKeeper assistance then.