Job Maker – How does it work
Last night the Treasurer announced a number of initiatives in the Federal Budget aimed at kick starting the ecconomy towards growth. One of these initiatives was the Job Maker Scheme.
Under the scheme, Job Maker hiring credits will be available for each new job created from today , 7th Oct 2020 to 6 October 2021.
Credits, to a maximum of $10,400 per new position created will be paid over a 12 month period . Eligible employers will receive $200 per week for employees aged 16- 29 years, and $100 per week for employees aged between 30 and 35 years.
To be an eligible employer you must :
– be able to demonstrate that the new employee will increase overall employee headcount using number of employees at 30 September 2020
– be able to demonstrate that the new employee will increase overall payroll using the quarter ended Sept 2020 as a base line.
– not be receiving the Job Keeper rebate
– employees must work, on average, a minimum of 20 hours per week across the quarter AND have received the Job Seeker payment or Youth allowance / or parenting payment for at least 1 month in the previous month .
Employers will be able to claim job maker credits from the 1st February 2021 for all new jobs created during the first quarter 7 Oct 2020 to 6 Jan 2021.
We are all behind this initiative – lets get hiring!.