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.
To see how we can help you maximise your claim, call us on 08 8346 6644.