Coronavirus – government rescue package and privacy update
The Government has, today, announced a multi-million dollar rescue package for businesses. At the centre of this package, is a $5.1b wage subsidy which will see the Government pay employers up to $150,000, per business, over the next 12 weeks.
As always, the devil is in the detail, and we are yet to review any official documentation related to the Rescue Package. For now, a summary of the employment-related aspects of the Rescue Package is below:
- Any business that can show a 30% decline in revenue for any month between January and June 2020, when compared with the same month last year, will be eligible for support.
- A wage subsidy scheme will be available from 18 March 2020 to eligible businesses and will pay up to $585 per week for full time employees and up to $385 for part-time employees.
- A new scheme will be introduced, which will see the same payments (up to $585 for full time employees and $385 part time) for any workers or contractors who need to self-isolate for the required 14 days. The scheme will also pay out the entire sickness period for anyone infected with COVID-19.