JobMaker Updates

This week the Australian Government passed the bill to establish its JobMaker Plan. The JobMaker Plan aims to create around 450,000 new job positions for young Australian’s aged between 16 and 35 years old. The JobMaker Hiring Credit will be accessible to employers for each job created during the next 12 months, from 7 October 2020, when they hire an eligible young job seeker aged between 16 to 35 years old.

For each eligible employee, employers will receive for a period up to 12 months:

·         $200 a week if they hire an eligible young person aged 16 to 29 years; or

·         $100 a week if they hire an eligible young person aged 30 to 35 years.

Employers must demonstrate that they have increased their overall employment numbers to receive the JobMaker Hiring Credit for a period up to 12 months for each position created. To claim the JobMaker Hiring Credit, employers need to report their employees’ payroll information to the Australian Taxation Office through Single Touch Payroll. For more information visit the ATO.