Grow your business with help from the JobMaker Hiring Credit
Posted on March 3rd, 2021
Businesses that are creating new positions and employing young Australians may be eligible for a new wage subsidy called the JobMaker Hiring Credit, paid by the ATO.
Employers that are increasing both their headcount and payroll can receive up to $10,400 per year for each new job they fill with an eligible employee aged 16 to 29 years, and $5,200 for each eligible employee aged 30 to 35 years.
To be eligible new employees must:
Deputy Commissioner James O’Halloran said that employers do not need to satisfy a turnover test for their business and the three-step process to access the credit is straightforward.
“The first step for a business is to register. From here, the second step is to nominate their new employees and the third is to make a claim.
“I also encourage employers who need advice to contact their tax or BAS agent, or check out the resources available on our website,” said Mr O’Halloran.
To find out more go to www.ato.gov.au/jobmakerhiringcredit.
You can also use the JobMaker Hiring Credit payment estimator to calculate the payment you could receive.
