General
JobKeeper subsidy drops then disappears entirely in March, and some workers are worried
Hundreds of thousands of Australians face a pay cut of up to $100 per week as employee wage subsidy JobKeeper is wound back.
Key points:
- The employer subsidy payment JobKeeper drops by as much as $100 per week from January 4, meaning many workers will face a reduction in pay
- The Government is sticking to its plan to scrap the subsidy altogether at the end of March despite the COVID outbreak in New South Wales
- The total cost of JobKeeper is estimated to be $90 billion
The payment was established at the start of the pandemic to encourage affected business to keep staff employed, but it entered its final phase on Monday ahead of its scheduled conclusion at the end of March.
From January 4, eligible businesses receive $500 per week for each staff…
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