- 5 November 2020
- Posted by: runningthenumbers
- Categories: Accounting, Employer, Federal Budget
JobMaker is a credit available to eligible businesses and non-profit entities that create new jobs (not if you are merely replacing someone who left). The hiring credit is available for jobs created from 7 October 2020 until 6 October 2021 and provides:
- $200 per week for new employees between 16 to 29 years of age; and
- $100 per week for new employees between 30 to 35 years of age.
Administered by the ATO, JobMaker is a credit that is paid quarterly in arrears from the start date of the employee for 12 months, assuming the business and employee remains eligible.
The credit is an incentive for the employer to support wage costs and is not passed onto the employee.
Unlike JobKeeper, JobMaker can apply to new businesses and the business does not need to satisfy a decline in turnover test to receive payments.
A series of people are excluded from the JobMaker scheme including employers receiving JobKeeper, employees receiving an apprentice wage subsidy, and close associates of the business including some relatives of the business owners.
- $200 per week for new employees between 16 to 29 years of age; and
- $100 per week for new employees between 30 to 35 years of age.
Administered by the ATO, JobMaker is a credit that is paid quarterly in arrears from the start date of the employee for 12 months, assuming the business and employee remains eligible.
The credit is an incentive for the employer to support wage costs and is not passed onto the employee.
Unlike JobKeeper, JobMaker can apply to new businesses and the business does not need to satisfy a decline in turnover test to receive payments.
A series of people are excluded from the JobMaker scheme including employers receiving JobKeeper, employees receiving an apprentice wage subsidy, and close associates of the business including some relatives of the business owners.
View our Jobmaker Hiring Credit guide here.
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