Employers can register for the new JobMaker Hiring Credit scheme being administered by the Australian Tax Office (ATO) on behalf of the Federal Government.
The JobMaker Hiring Credit payment is a wage subsidy paid directly to employers that will help to accelerate growth in the employment of young people during the COVID-19 economic recovery.
The scheme is an incentive for businesses to employ additional job seekers aged 16 to 35.
Eligible employers can access the payment for up to 12 months for each eligible additional employee they hire between October 7, 2020 and October 6, 2021.
They will be able to claim up to $200 a week for each additional eligible employee they hire aged 16 to 29 and up to $100 a week for those aged 30 to 35.
This means that an employer will be eligible for up to a total of $10,400 over the year for each eligible employee aged 16 to 29 or $5,200 if aged 30 to 35.
Deputy Commissioner, James O’Halloran, said the ATO was working hard to make it as easy as possible for employers to access the Government’s JobMaker Hiring Credit payment.
“The ATO is here to support employers and the community to easily access important economic stimulus like the JobMaker Hiring Credit,” O’Halloran said.
He encouraged businesses to check their eligibility and take the first step to register for the scheme so they could move to quickly make a claim in February 2021.
You cannot claim if you are not registered.
“Employers are reminded that new employees must have received the Parenting Payment, Youth Allowance (Other) or JobSeeker Payment for at least 28 consecutive days (or two fortnights) within the 84 days (or six fortnights) of being hired to allow for a claim to be made by the employer,” O’Halloran said.
“There are some key dates to keep in mind, and simple steps that employers can take now, but please remember that not everything needs to be done from next week,” he said.
Claims for the first quarterly payment will open on February 1, 2021.
The last day to claim is October 6, 2021.
Information Source: Media release, Dec 7, 2020, ATO Media