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Your Questions answered-What is the JobMaker Hiring Credit?
Your Questions answered-What is the JobMaker Hiring Credit?
The JobMaker is an incentive announced by the Federal government on the 6th of October to encourage businesses to employ additional staff esp. young people.
Eligible business will have access to the scheme for 12 months from 7 October 2020. Employers must register with the ATO and claims will commence in February.
The JobMaker Hiring Credit will be:
- $200 per week per eligible employee aged 16 to 29
- $100 per week per eligible employee aged 30 to 35.
To be eligible, employers must:
- 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).
For the employer to be eligible, new employees must:
- 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.
Further eligibility conditions will apply to employers based on the employer’s headcount and payroll on 30 September 2020. For more info: https://budget.gov.au/2020-21/content/jobmaker.htm#:~:text=The%20Government’s%20%2474%20billion%20JobMaker,more%20Australians%20back%20to%20work.
