Prime Minister Scott Morrison has unveiled a massive $130 billion JobKeeper package to provide job security during the coronavirus crisis.

Scott Morrison announced the $130 billion package to subsidise the pay packets of Australians at risk of being stood down because of the COVID-19 downturn.

An estimated 6 million Australians are expected to access the scheme, which will see recipients granted a $1500 a fortnight payment.

The payments will flow from the first week of May and be back dated to March 30.

Those who were stood down after March 1 will also be eligible for the payments.

The package will be available to full time and parts time workers, sole traders, and to casuals who have worked in their position for at least a year.

“This is more generous than the New Zealand scheme,” Treasurer Josh Frydenberg said.

From today employers and sole traders can apply through the tax office for the payment for any employees that have been on the books since March 1.

Employers and sole traders are eligible if their annual turnover has fallen by 30% or more. In the case of businesses that have a turnover in excess of $1 billion, it must have fallen by 50% or more.

Eligible employees include Australian residents, New Zealand citizens in Australia who hold a subclass 444 special category visa, and migrants who are eligible for JobSeeker Payment or Youth Allowance (Other).

The government will also extend the JobSeeker payment to include those whose partners earn up to $79,000. Currently the payment is only accessible for unemployed people whose partners earn under $48,000.

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