Can the JobMaker Hiring Credit help your business?

(ATO)
www.ato.gov.au

 

The JobMaker Hiring Credit could mean that your business will receive payments for new positions you create.

Eligible employers will receive payments of up to:

  • $200 a week – for each eligible employee aged 16 to 29 years old
  • $100 a week – for each eligible employee aged 30 to 35 years old.

To be eligible, your business must meet criteria including:

  • holding an Australian Business Number (ABN)
  • being registered for pay as you go (PAYG) withholding
  • reporting through Single Touch Payroll
  • being up to date with income tax and GST lodgment obligations
  • not falling into any of the exclusion categories.

The new positions must increase both your employee headcount and payroll.

  • The total employee headcount must increase by a minimum of one additional employee from the date of 30 September 2020.
  • The payroll for the reporting period must increase compared to the three months to 6 October 2020.

There are specific dates relevant to both eligibility and payment. Check our website for more details.

You can register for the JobMaker Hiring Credit using ATO online services or the Business portal at any time until the program closes. Your registered tax or BAS agent can help you with your application.

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If you would like to know more, feel that you or anyone you know requires advice, or would simply like a review of your financial situation, please visit our contact page call our office today to arrange an appointment on (07) 5574 0667.

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Disclaimer

The information has been given in good faith and has been prepared based on information that is believed to be accurate and reliable at the time of publication. The information is general in nature and does not take into account your particular financial needs, circumstances and objectives.

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