The payment is being called the Job Keeper Payment, and will be paid fortnightly at a rate of $1500.
In a press conference on Monday afternoon, Morrison announced the biggest financial assistance package Australia has ever seen, accepting that "some will say it is too little" and some will "say it is too much".
Morrison has pledged AU$130 billion over the next six months to help Australians who have found themselves out of work.
The wage subsidy is a flat payment of $1,500 per employee per fortnight, which Treasurer Josh Frydenberg said represented 70% of the Australian median wage and 100% of the median wage in the industries most seriously affected by the coronavirus, including hospitality, retail and tourism. For businesses with turnovers of more than $1 billion, they will have had to take a hit of 50% or more.
The scheme will be open to Kiwis on "special category visas" - nearly every New Zealander who has moved to Australia without upgrading to citizenship.
"We want to keep the economy running through this crisis, it may run in idle for some time, but it must run", Scott Morrison said.
Gary is required to advise his employees that he has nominated them as eligible employees to receive the payment.
The new program includes full time, part time employees and sole traders, as well as casuals who have been with the company for more than 12 months.
Asked if there would be other exceptions - such as for Pacific workers on temporary visas - Morrison said that some others "are under consideration but for now the short answer to that is no".
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China, Iran and Frnace have also seen over 2,000 deaths and the United States tally was also nearing 2,000 on Saturday. Vietnam cut back domestic airline flights and closed restaurants and other businesses for two weeks.