One of the newer initiatives introduced by the ATO is the Jobmaker hiring credit. This credit was created as an incentive to employ additional young Job-Seekers aged between 16-35 years of age to reduce unemployment. It allows businesses to claim payments for these workers for up to 12 months from their start date.
The eligibility criteria for this is:
- Employer must:
- Operate a business or Non-for-Profit organisation principally located in Australia
- Have an ABN
- Be registered for PAYG-W
- Report through Single Touch Payroll
- Be Up-to-date with GST lodgement obligations and income tax for the last 2 years
- Have not claimed a JobKeeper payment for a fortnight that started during the JobMaker Period
- Employee must be:
- Have not left another job to come to yours
- Be between 16 & 35 years old
- Received income support payments such as Jobseeker, Youth Allowance or Parenting Payment for at least 28 days within the 12 weeks prior to being hired
- The Job Creation criteria:
- Total headcount of staff-members has increased from 30 September 2020
- Payroll for the Jobmaker period compared to the 3 months leading to October 6 has increased
- Other Criteria:
- Employees must start employment between 7 October 2020 & 6 October 2021
- Be hired as a permanent or casual employee on a fixed-term basis
- Have worked or been paid for at least 20 hours per week in the JobMaker Period
- Employees must provide employers a notice declaring they meet the criteria
The Scheme started for employees from October 2020 and the first claim period has begun. If you believe you are eligible for this scheme or would like more assistance looking into implementing this for your business, contact Graham or Sophie to book in a time.