2021 Aug 20 By erataxsolutions 0 comment

A government incentive for businesses considering employing young job seekers may be available to you.

If your business is considering hiring additional staff, you may be eligible for the JobMaker Hiring Credit. This scheme runs from 7 October 2020 to 6 October 2021.

The maximum claim period is for 12 months from the employment start date for each newly created job. The incentive is designed for young people:

  • Eligible additional employees aged 16 to 29: $200/week.
  • Eligible additional employees aged 30 to 35: $100/week.

The maximum amount is $10,400 for each newly created job. Still, it cannot exceed the amount the payroll has increased for that reporting period.

First step: Employers registration, now. If accepted, this will allow you to claim the JobMaker Hiring Credit from 1 February 2021.

An eligible employer must:

  • operate a business in Australia and have an ABN
  • be registered for PAYG withholding
  • has not claimed JobKeeper for a fortnight during the JobMaker period
  • is up to date with their income tax returns and GST returns for 2 years up to the end of the JobMaker period of the claim
  • satisfy both payroll and headcount increase
  • meet reporting requirements including Single Touch Payroll
  • is not in the ‘ineligible employer’ category

Need assistance with registration? Need help with determining the increase in the baseline headcount?

Let ERA come to your aid to ensure all the legislative requirements are met and provide the correct calculations to achieve this hiring incentive.

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