Coronavirus stimulus: Round 3

The government has released details of its $130bn wage subsidy scheme, the JobKeeper Payment. It is the third in a series of economic stimulus designed to help people keep their jobs while businesses go into “hibernation”. Instead of Centrelink, it will be businesses that administer the payment and act as the paymasters, helping employers and employees maintain contact for when the economy gets back on track. Eligible employers must apply with the ATO, and if approved, will be able to receive $1,500 per fortnight per eligible employee for up to 6 months.