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How To Grow With JobMaker
Mar 10, 2021
JobMaker information for 2021!
2021 is shaping up to be an interesting year for businesses in Australia. With faster than expected growth and changes to restrictions confidence is returning to the community. To encourage this growth the federal government has introduced a new scheme for businesses to employ additional young job seekers aged 16–35 years. Eligible employers can access the JobMaker Hiring Credit
for each eligible additional employee they hire between 7 October 2020 and 6 October 2021.
JobMaker Explained
The scheme will be backdated to commence on 7 October 2020 and provide eligible employers with the following payments for up to 12 months for new jobs created where they hire the following young workers:
- $200 a week for hiring a worker aged 16 to 29 on at least 20 hours a week
- $100 a week for those aged 30 to 35
It is important to note that the scheme will run for 12 months and that is the hiring period – not the payment period. The payment period could extend into 2022, depending on the hiring date of the eligible employee. Employers who hire an eligible employee on the last day of the scheme (6 October 2021), may be eligible for hiring credits for the subsequent 12 months until 6 October 2022.
Who is eligible?
The criteria is very broad for this scheme. Any business with an ABN, is registered for PAYG withholding, is up to date with lodgment obligations and is currently reporting through STP is eligible.
The excluded employers are as follows:
- employers who are claiming JobKeeper
- entities in liquidation or who have entered bankruptcy
- federal, state, and local government agencies (and entities wholly owned by these agencies)
- employers subject to the major bank levy
- sovereign entities (except those who are residents)
- Australian entities owned by a sovereign entity
JobMaker Dates
The JobMaker Hiring Credit scheme starts on 7 October 2020. It may be possible to claim payments relating to employees hired up until 6 October 2021. Employees hired on or after 7 October 2021 are not eligible employees.
- 6 December 2020 – registrations open
- Register from 6 December 2020. Only register once and each business must be registered before any claims can be lodged.
- 1 February 2021 – first claim period opens
- Claim JobMaker Hiring Credit payments from 1 February 2021 as long as registered businesses have met the other eligibility requirements (including reporting through Single Touch Payroll).
- 30 April 2021 – first claim period closes
- Claim JobMaker Hiring Credit for the first JobMaker period until the end of 30 April 2021. Claim by the end of the claim period to receive JobMaker Hiring Credit for that period.
- 6 October 2022 – scheme ends
- The JobMaker Hiring Credit scheme will end on 6 October 2022.
Claim period dates for later JobMaker periods are set out below:
- Period 1: 7 October 2020 to 6 January 2021
- Period 2: 7 January 2021 to 6 April 2021
- Period 3: 7 April 2021 to 6 July 2021
- Period 4: 7 July 2021 to 6 October 2021
- Period 5: 7 October 2021 to 6 January 2022;
- Period 6: 7 January 2022 to 6 April 2022
- Period 7: 7 April 2022 to 6 July 2022
- Period 8: 7 July 2022 to 6 October 2022
How to grow with JobMaker
JobMaker is a great option for businesses that are not only planning to recover but to grow in the next 12 months. For businesses that are currently experiencing growth this lowers the cost of employing new people, particularly in the e-commerce space.
For businesses who may be currently pre-growth but are anticipating and planning for growth after the return off office workers or lifting of restrictions, such as retail and hospitality, now is the time to start planning new hires in the coming quarter who are eligible for this scheme.
Other businesses specifically in the service industry may be planning to move their delivery into new physical or online locations this year. The time is now to start thinking about the right support staff for these changes who are eligible for the scheme.
Any questions about how to plan your growth and how this scheme could work for you? Please get in touch
we are always happy to help!
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