The JobKeeper Payment: What you need to know

The Government announced the $130 billion JobKeeper Payment.

The subsidy of $1,500 per fortnight per employee, administered by the ATO, will be paid to businesses that have experienced a downturn of more than 30% (50% for businesses over $1bn).

The payments are made by the ATO in arrears to the employer with payments starting in May.

The 2nd Stimulus Package: What you need to know

The Government yesterday released a second, far reaching $66.1 bn stimulus package that boosts income support payments, introduces targeted changes to the superannuation rules, provides cash flow support of up to $100,000 for small business employers, and relaxes corporate insolvency laws.