Legislation to establish the JobKeeper scheme of wage subsidies in the form of payments made via employers has passed both houses of Parliament and has achieved royal assent.
The bills concerned (the Corona virus Economic Response Package (Payments and Benefits) Bill 2020 and the Corona virus Economic Response Package Omnibus (Measures No. 2) Bill 2020) also amend the Fair Work Act 2009 to support the practical operation of the JobKeeper scheme, as well as other measures including the guarantee of lending to small and medium enterprises, and consequential amendments.
The details of eligibility for particular payments as well as the amount of payments and the time when they are to be paid will be set out in the rules made by the Treasurer, so that arrangements can be modified appropriately in response to the impacts of COVID-19.
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