Is your business eligible for the new JobMaker Hiring Credit?
The JobMaker Hiring Credit will give businesses incentives to take on additional young job seekers. This will help young people access job opportunities as the economy recovers. The JobMaker Hiring Credit will be available to employers for each new job they create over the next 12 months for which they hire an eligible young person, aged 16 to 35 years old.
From 7 October 2020, eligible employers will be able to claim $200 a week for each additional eligible employee they hire aged 16 to 29 years old, and $100 a week for each additional eligible employee aged 30 to 35 years old. New jobs created until 6 October 2021 will attract the JobMaker Hiring Credit for up to 12 months from the date the new position is created.
We see this scheme as a great opportunity for small business. Is there an area of your business where you could use extra support but haven’t been able to justify the spend? Perhaps you have a team member who could be doing more valuable work if some of their workload was able to be performed by junior staff.
To be eligible, the employee must have:
· received the JobSeeker Payment, Youth Allowance (Other), or Parenting Payment for at least one of the previous three months at the time of hiring.
Employers are eligible to receive the JobMaker Hiring Credit if they:
• Are not receiving JobKeeper payments
· have an Australian Business Number (ABN);
• are up to date with tax lodgement obligations;
• are registered for Pay As You Go (PAYG) withholding;
• are reporting through Single Touch Payroll (STP);
• meet the additionality criteria (see fact sheet);
• are claiming in respect of an eligible employee; and
• have kept adequate records of the paid hours worked by the employee they are claiming the hiring credit in respect of.
We will be building a pool of eligible talent for this scheme. Please register your interest, or contact the team for a chat about how we might be able to assist you.
Download the fact sheet on JobMaker here