Author: Wendy Waack, Partner, TAG Financial Services
If you are a business owner, have you thought about whether you are eligible for the JobMaker hiring credit scheme?
In simple terms, it means that if you employ someone that is currently unemployed, you receive payments up to:
- $200 a week – for each eligible additional employee aged 16 to 29 years old inclusive.
- $100 a week – for each eligible additional employee aged 30 to 35 years old inclusive.
The key aim of the program is to get young job seekers back into the labour force by allocating subsidies to eligible employers. The scheme is available for each additional employee hired from 7 October 2020 until 6 October 2021.
The devil is in the detail, and the following links provide the eligibility criteria detail:
Employer Eligibility
https://www.ato.gov.au/general/JobMaker-Hiring-Credit/Employers/Eligible-employers/
Employee Eligibility
https://www.ato.gov.au/general/jobmaker-hiring-credit/Employers/Your-eligible-employees/
More information about the scheme can be found on the ATO website.
Need Assistance?
Although the eligibility criteria rules look complex, this is a very worthwhile scheme.
If you have questions or need any assistance, please do not hesitate to contact us.
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Disclaimer: The information contained is general in nature. Professional advice should be sought before acting on any aspect on this page. Financial planning services provided by TAG Financial Advisors Pty Ltd (ABN 77 154 205 017 AFSL 415632), a wholly owned subsidiary of TAG Financial Services Pty Ltd (ABN 67 075 374 686).