The Federal government has provided additional information regarding the promised 75% wage subsidy, designed to help businesses during the COVID-19 pandemic.
It will be back-dated to March 15, 2020.
Available to businesses that show a 30% revenue decrease due to COVID-19.
The subsidy will cover 75% of the first $58,700 of salary earned per employee. (Weekly payments of up to $847) and applies to businesses of all size.
Anyone caught abusing the subsidy will face harsh penalties.
More details are expected March 31 2020.