The legislation for the next round of government economic stimulus, known as the ‘JobMaker Hiring Credit’, became available on the 4th December 2020 with the first JobMaker period being 7 October 2020 – 6 January 2021.
So, what does this mean for your business and will you be eligible to participate?
To be eligible, you need to hire an additional employee between 7 October 2020 and 6 October 2021 and meet ALL of the following:
Note: You do not need to be registered before you employ someone.
If you meet the above criteria, you will be eligible to receive:
Note: The age will be tested at the time employment commences and payments will last for 12 months from the employment commencement date.
Registrations are currently open for the scheme. However, employers must be mindful to register by the due date of the first JobMaker period they are claiming for. For example, if you want to make a claim for the first JobMaker period, you must register by 30 April 2021. You can find more info on the claim periods and due dates here.
Once registered, employers must lodge a claim for their JobMaker Hiring Credit payments via the ATO’s online services – the first claim will be available online on 1 February 2021. Claims must be made within three months from the end of each JobMaker period and the JobMaker Hiring Credit will be paid every 3 months in arrears.
If you think you may be eligible and would like assistance in making an application for the JobMaker hiring credit, please contact our office for assistance.
– Jamie Newling
This article is compiled as a helpful guide for your private information and is subject to copyright. We suggest that you do not act solely on the basis of material contained in this article because items are of general nature only and may be liable to misinterpretation in particular circumstances. We recommend that our advice be sought before acting on any of these crucial areas.