The first claim period for the JobMaker Hiring Credit closes April 30.
At the end of 2020, 1 in 3 young Australians were unemployed or under-employed (someone who desires and is available for, additional working hours).
The latest figures from the Australian Bureau of Statistics, show youth unemployment has risen from 0.9% to 15.6%. This rate is 3 x times higher compared to the current labour market, which is hovering at 5.4%.
In response to these confronting figures, the Australian Government created the JobMaker Hiring Credit scheme – an incentive for businesses to employ additional young job seekers aged 16-35 years.
Eligible employers can access the JobMaker Hiring Credit for each eligible employee they hire between 7 October 2020 and 6 October 2021. Eligible employees must have been receiving JobSeeker Payments, Parenting Payments or Youth Allowance prior to commencing employment with you.
Employees must have been paid an average of 20 hours per week during the JobMaker period for you to be eligible to claim the Hiring Credit. As an employer you must prove you are creating new employment positions, not replacing existing ones. To do this you will need to satisfy the headcount and payroll increase conditions.
Note: this is not available for businesses already claiming JobKeeper payments during the JobMaker period.
You can register for the JobMaker Hiring Credit using the ATO’s online services, Business Portal or alternatively your Tax or BAS Agent can register on your behalf.
There are other eligibility criteria to consider, for more information visit ATO JobMaker Hiring Credit
If you require our assistance in assessing your eligibility for the JobMaker Hiring Credit please contact us, we are here to help.