Government’s Tranche 3 ‘JobKeeper’ wage subsidy – $130bn for payment of $1,500 per fortnight to COVID-19 affected employers, to fund remuneration to eligible employees

On 30 March 2020 the Federal Government continued its tsunami of economic stimulus with the release of a $130b ‘JobKeeper Payment’ initiative. It is aimed at helping employers to retain their workforce, while navigating their way through the commercial disruption of COVID-19. Commencing 30 March 2020, the government will underwrite/reimburse businesses $1,500 each fortnight per…