One of the big announcements in the Federal Budget 2020-21 is the JobMaker Hiring Credit, a program to encourage businesses to continue to employ staff.
JobMaker, JobSeeker, JobKeeper what is the difference?
We’re not surprised if your confused about all these measures and what they mean for your business.
JobSeeker is the new name for the dole and other payments, administed by Centrelink. JobKeeper is a wage subsidy scheme given to employers, administed by the ATO.
Now the government has announced JobMaker, an incentive to employers to hire new staff between 16-35 years of age for the next 12 months that is administered by the ATO and claimed by employers quarterly (in arrears).
New jobs created from 7 October 2020 until 6 October 2021 will attract the jobmaker hiring credit for up to 12 months from the date the new position is created.
How much can my business get for the JobMaker Hiring Credit?
$100/wk for each additional eligible employee that is between 30-35 years old
How & when is the JobMaker Hiring Credit paid?
Which staff can I receive JobMaker Hiring Credits for?
Can I still get it if my business currently receives the JobKeeper?
What do I apply for the JobMaker Hiring Credit?
What else do i need to know?
- Must keep adequate records of paid hours worked
- Must increase headcount (cant replace existing staff)
- Must have an ABN, registered for PAYG withholding, must report via STP
- Cannot be in receipt of any other Government support for the employee
Contact us via the link below to book a time for a free initial consultation to discuss your eligibility and to take advantage of this incentive.