Tax Tips

  JOBMAKER HIRING CREDIT

The Australian Government has introduced the JobMaker Hiring Credit. The payment provides an incentive for employers to hire young job seekers, by delivering a payment to employers to help support the new employee's wage costs. Eligible employers can receive the payment for up to 12 months (between 7 October 2020 to 6 October 2021) for new jobs that employ an eligible young person. This will result in credits of $200 a week for additional employees aged 16 to 29 years and $100 a week for new employees aged 30 to 35 years who meet the eligibility criteria. To be eligible both the employer and new employee must meet certain eligibility rules, in particular the employee must have been on a government payment in the past three months. The employer must also show an increase in head count along with payroll from the three months prior to the period wanting to claim for.