Registrations are open for the JobMaker Hiring Credit scheme. The Australian government scheme is to provide eligible employers an incentive to employ additional employees aged between 16 – 35 years old. It is available to eligible employers for each new job created between 7 October 2020 and 6 October 2021 for which they employ an eligible individual.
You can find the detailed eligibility criteria for employers by clicking here
Be aware that you will not be eligible, or you will be disqualified, if you enter into an arrangement to artificially inflate your headcount or payroll by terminating or reducing the hours of an existing employee in an attempt to access or increase payments under the JobMaker Hiring Credits scheme.
You will need to use Single Touch Payroll (STP) software to submit details about your employees, including those that you have newly hired. Through the JobMaker Hiring Credit scheme eligible employers may receive payments of up to:
$200 a week for each eligible additional employee aged 16 – 29 years old inclusive.
$100 a week for each eligible additional employee aged 30 – 35 years old inclusive.
Employers can make a claim for the first JobMaker period from 1 February 2021.
If you need any assistance for enrolling and claiming the above credit via ATO, please contact us at MyC Accountants. Our rate for the service is $350 per hour plus GST, the same as our other professional consultancy rate.