Updated 8 December.
The JobMaker Hiring Credit scheme has officially passed Parliament, providing incentive for employers to increase their staff headcount and hire new workers.
The scheme is aimed to boost the employment prospects for 16-35 year olds who were particularly impacted by restrictions imposed due to COVID-19.
The JobMaker Hiring Credit will be available to eligible employers from 7 October 2020 to 6 October 2021 for each additional new job they create for an eligible employee over this time.
Employers will be required to register with the Australian Taxation Office (ATO) and make claims quarterly, with claims commencing in February 2021.
Businesses will receive:
To be eligible, employers must:
The JobMaker Hiring Credit will be available for up to 12 months from the date of employment of the eligible employee with a maximum amount of $10,400 per additional new position created.
For full details and eligibility criteria view the JobMaker Hiring Credit Factsheet.
Registrations are now open. Register here: www.ato.gov.au/general/JobMaker-Hiring-Credit/Register-for-JobMaker-Hiring-Credit/
If you have questions regarding the JobMaker Hiring Credit, please give us a call on 03 5443 0344 or email us at email@example.com.