The JobMaker Hiring Credit: What you Need To Know?

Over the past few months, there has been a huge amount of new information and incentives from both local and federal government departments that we try our best to sharing with you.

We will attempt to simplify the relevance of the JobMaker Hiring Credit Scheme and how it could benefit you.

Overview 

Currently, registrations are now open for the Federal Government’s JobMaker program. It is an incentive for Australian businesses to employ job seekers aged between 16–35 years. Eligible employers can access JobMaker for each eligible additional employee they hire between 7 October 2020 and 6 October 2021.

Who are the eligible employees? 

  • Employees aged 16 to 29 are eligible for $200 per week
  • Employees aged 30 to 35 are eligible for $100 per week
  • Employees must work for a minimum of 20 hours per week, averaged over a quarter
  • Employees must have received JobSeeker, Youth Allowance or Parenting Payment for at least one month out of the three months prior to when they are hired by your business
  • Employees need to commence between 7 October 2020 and 6 October 2021
  • Employees must be in first year of employment with your business
  • Can be employed on a permanent, casual or fixed term basis

What do employers need to know?

  • Employers need to demonstrate that the new employees will increase the overall employee headcount and payroll
  • Employers who are claiming the JobKeeper payment in relation to any employees cannot claim the JobMaker Hiring Credits
  • If employers are claiming the JobKeeper payment, the JobMaker program will commence once JobKeeper stops
  • Employers must keep adequate records of paid hours worked by employees that are claiming the JobMaker Hiring Credits

Key dates to remember

  • The program runs from 7 October 2020 to 6 October 2021
  • Eligibility for the credits runs for 12 months from when the employee is hired
  • Payments will be paid quarterly in arrears and will be available for up to 12 months from the date of employment

Other things to note

  • Employees would have to sign documents confirming their Jobseeker amounts, received and dates, and that they are not claiming from anywhere else
  • Also reporting needs to include average hours for each employee, confirming employees eligibility, checking Single Touch Payroll (STP), and confirming total credits that you’d receive, confirming baseline totals and providing declaration to ATO and account details

You can estimate the payment you may receive by using the JobMaker Hiring Credit payment estimator (XLSX 18KB)This link will download a file.

For more information, the JobMaker Hiring Credit legislative framework is contained in:

  1. the Economic Recovery Package (JobMaker Hiring Credit) Amendment Act 2020 (the Act);
  2. the Treasurer’s legislative instrument, theCoronavirus Economic Response Package (Payments and Benefits) Amendment Rules (No. 9) 2020 (JM Rules); and
  3. the Commissioner’s legislative instrument, the JobMaker Hiring Credit Reporting Obligations Instrument 2020 (Reporting Rules).

Thank you for your time and hope this information will helpful for you.

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