The JobKeeper wage subsidy has now passed into law.
Yesterday, parliament passed the Coronavirus Economic Response Package Omnibus (Measures No. 2) Bill 2020 and the Coronavirus Economic Response Package (Payments and Benefits) Bill 2020 (JobKeeper Legislation) which introduce a range of new measures, largely given effect through amendments to the Fair Work Act 2009 (FWA).
The measures create, for the first time, a wage subsidy for the employees of eligible employers and also a range of new powers for eligible employers to stand down employees including changing their hours and separate powers to change the location of work or the duties performed to manage their staff and business through this difficult period.
The JobKeeper Legislation will also be supported by the Coronavirus Economic Response Package (Payments and Benefits) Rules 2020 (JobKeeper Rules), which are yet to be finalised. The information set out in this publication is subject to change pending finalisation of the JobKeeper Rules.
This newsletter summarises the key matters from the new legislation to assist you to better understand how the wage subsidy will work for employers and employees.
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