$1500 per fortnight to subsidise each employees wages for 6 months. The business must have sustained a minimum 30% reduction in profit I think, but possibly turnover ( compared to March 2019 quarter ). The important thing is it also applies to sole traders and self employed with an ABN number. THIS COULD BE VERY HELPFUL TO SOME EBAY BUSINESSES.
And still one day to go in the March quarter, so still time to pay some bills and sneak under the limit if you are marginal on the 30% downturn in profit. ( assuming it is based on profit / quarterly BAS statements and not turnover ) Only announced today and details are still a bit sketchy.
Just found an ATO fact sheet. The business must have at least a 30% reduction in TURNOVER to a comparable period 12 months ago and this can be a monthly period. Quarterly figure not required.
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