As part of the 2020–21 Budget, the government announced a new incentive for businesses to employ additional young job seekers called the JobMaker Hiring Credit. The JobMaker Hiring Credit is administered by the ATO.
Eligible employers can access the JobMaker Hiring Credit scheme for eligible additional employees they hire between 7 October 2020 and 6 October 2021, for a maximum claim period of 12 months from their employment commencement date.
Through the JobMaker Hiring Credit scheme, eligible employers may receive payments of up to:
- $200 per week for each eligible additional employee aged 16–29 years old inclusive.
- $100 per week for each eligible additional employee aged 30–35 years old inclusive.
Employers can register with the ATO now and make a claim for the first JobMaker period from 1 February 2021.
Once registered, eligible employers can claim the JobMaker Hiring Credit payment for each JobMaker period. You can make a claim for the first JobMaker period from 1 February 2021. Payments are made in arrears.
To complete your registration for the JobMaker Hiring Credit, employers must provide their:
- baseline headcount
- baseline payroll amount
- contact details
Employees are eligible if they:
- are an employee of the entity during the JobMaker period
- are aged 16–35 years old when they started employment
- started employment on or after 7 October 2020 and before 7 October 2021
- worked or have been paid for an average of at least 20 hours per week they were employed in the JobMaker period
- have completed a JobMaker Hiring Credit employee notice for the employer
- have not already provided a JobMaker Hiring Credit employee notice to another current employer
- received one of these payments for at least 28 consecutive days (or 2 fortnights) in the 84 days (or 6 fortnights) prior to starting employment
– JobSeeker Payment
– Parenting Payment
– Youth Allowance (except if they were receiving the allowance because they were undertaking full-time study or are a new apprentice)
If you are thinking of hiring a new employee between 16 and 35 years old, then the above could be an opportunity to receive government support to fund your new employee.
If you need assistance with registration or have any queries in regards to eligibility, please contact our office.