The JobMaker Hiring Credit has become law and employees hired after 7th of October 2020 may be eligible.
The benefits will be:
- $200 per week for each eligible employee aged 16 to 29
- $100 per week for each eligible employee aged 30 to 35.
For the employer to be eligible, new employees must:
- Eligible employees must have worked an average of at least 20 hours per week over the quarter for the employer to qualify for the payment
- be aged 16 to 35 years
- be in receipt of income support payments (such as JobSeeker Payment, Youth Allowance (Other), or Parenting Payment) for at least one of the three months before they were hired.
- Employers will register with ATO and make claims quarterly, with claims commencing in February 2021
- hold an Australian Business number (ABN)
- be up-to-date with their tax lodgement obligations
- be registered for Pay As You Go (PAYG) withholding
- be reporting through Single touch payroll (STP).
- Further eligibility conditions will apply to employers based on the employer’s headcount and payroll on 30 September 2020.
- These conditions ensure that employers claim credits for additional jobs created rather than for replacing existing employees.