Businesses will start to receive the JobKeeper payments in the first week of May.

In the interim, the federal government has advised employers to pay their employees $750 per week. When businesses receive the first JobKeeper installment in May, they can make a claim to be reimbursed from the ATO. Banks have indicated that they will do their best to help businesses bridge the gap between early April to early May.

In addition to the JobKeeper payment, businesses can also apply for cash flow support (BAS credits). You’re able to register your interest in receiving the payment via the ATO website here

The above information is a brief summary only and does not take into account your personal needs and is not a substitute for independent professional advice. We strongly recommend that you speak to your accountant as they will be able to provide you the most suitable advice for your individual circumstance and to ensure that you are also always receiving the most up to date information.