The wage subsidy scheme is available to employers, self-employed and sole traders.
The subsidy will be assessed as follows:
- Full time employees (20 plus hours a week) will receive $585 per week for 12 weeks. A lump sum of $7,020 per employee
- Part time employees (less than 20 hours per week) will receive $350 per week for 12 weeks. A lump sum of $4,200 per employee.
The subsidy will be paid direct to the business and will be available to be applied for over the next 12 weeks.
To qualify, businesses must undertake the following declarations:
- That they will have at least a 30% decline in revenue due to COVID-19 for any month between January 2020 and June 2020 (compared to last year);
- Will make best endeavours to retain the named employees and pay them a minimum of 80% of their normal wages or salary for the duration of the subsidy. If they are unable to do so, they must pay at least the rate of the subsidy that applies to each employee; and
- That they have talked to their bank or financial adviser about assistance.
This subsidy is being administered under a high trust model. The information provided to MSD will not require verification initially. However, MSD will check applications and verify information at a later date and if false or misleading information has been submitted, the business could be subject to a fraud investigation.
COVID-19 Sick Leave Payment Scheme
As of 3pm Friday 27 March 2020, the previous separate sick leave payment scheme has been folded into this Wage Subsidy Scheme. The original sick leave scheme was designed when few people were in self-isolation. The Government is working on arrangements for those in essential work who require sick leave due to COVID-19.