The Australian Tax office (ATO) JobMaker Hiring Credit scheme is an incentive for businesses to create jobs and hire young Australians.
Suppose you have hired additional employees between 7 January and 6 April 2021. In that case, you may be eligible to claim JobMaker Hiring Credit payments for their wages.
Under the scheme, as an employer, you can receive payments of up to:
- $10,400 over a year for each additional eligible employee aged 16 to 29 years
- $5,200 over a year for each additional eligible employee aged 30 to 35 years.
This not only gives a young person a job but also can help with the cost of growing your business.
You can register with the ATO for the JobMaker Hiring Credit here.
You only need to register once before the end of the claim period for the first JobMaker period you want to claim for.
To check your eligibility as an employer, you can find more details here. Note you cannot also claim JobKeeper at the same time.
If you are approved, payments will be made every 3 months in arrears.