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JobMaker Hiring Credit | What is it and how it works?

The JobMaker Hiring Credit is a government payment established to support businesses through the COVID-19 recession recovery.

The Australian Government will provide $4.0 billion of support over three years from 2020-21 to help with employment growth by supporting organisations to take on additional employees through a hiring credit. The JobMaker Hiring Credit will be available to eligible employers over 12 months from 7 October 2020 for each additional new job they create for an eligible employee.

Information for Employers on JobMaker Hiring Credit Scheme

Eligible employers need to able to demonstrate that the new employee will increase overall employee headcount and payroll will receive $200 per week if they hire an eligible employee aged 16 to 29 years or $100 per week if they hire an eligible employee aged 30 to 35 years. For more information on the eligibility of employers check out the ATO website

The JobMaker Hiring Credit will be available for up to 12 months from the date of employment of the eligible employee with a maximum amount of $10,400 per additional new position created.

For the business who is considering to hire, the employee will need to have worked for a minimum of 20 hours per week, averaged over a quarter, and received the JobSeeker Payment, Youth Allowance (other) or Parenting Payment for at least one month out of the three months prior to when they are hired.

Information For Employees on JobMaker Hiring Credit Scheme

In short, this would not have an impact on how you are receiving your salary. You would still get your pay like you usually would. Your pay is also not based on the employer receiving the JobMaker Hiring Credit. This is a scheme designed to support your employer by providing them an amount of subsidy per week should they be eligible to claim it. For more information on what you need to do such as complete an employee notice read more on the ATO website.

Looking to take advantage of the JobMaker Hiring Credit? Advertise your job on Adzuna to start receiving applicants today.

 

 

 

 

Feature image is sourced from https://twitter.com/scottmorrisonmp/status/1313399057440620545