The JobMaker Hiring Credits scheme involves wage subsidies for businesses that increase their headcounts by hiring young workers aged 16-35 years.  These new employees will have been receiving a government payment such as JobSeeker, Youth Allowance or the Parenting Payment for at least two of the six fortnights prior to being employed into the role with you.

Employees must also work a minimum average of 20 hours per week during the JobMaker period in order for the business to receive the hiring credit.

The credits can be claimed for employees hired between October 7, 2020, and October 6, 2021, with businesses able to claim up to a total of $10,400 over the 12 month period for each eligible employee aged between 16 and 29, and $5,200 for those aged 30 to 35.

Businesses will be able to start claiming JobMaker hiring credits from February, but first need to register via the ATO’s website. Your BAS or tax Agent can provide this service for you and will require some baseline information from you to enable the calculation of claims through the ATO portals.

Under the JobMaker scheme, eligible employers can claim up to $200 per week for each additional employee they hire who is aged between 16 and 29, and up to $100 per week for additional workers aged between 30 and 35.  Where there has been an increase in the baseline headcounts and payrolls.

The credits will be paid quarterly and the first payment period will open for claims on February 1, 2021.

Call us today for more information about the JobMaker Hiring Credit scheme.