The JobMaker Hiring Credit is a payment that your business gets to keep – different to JobKeeper.
The scheme started on 7 October 2020, and employers will be able to claim payments relating to employees hired up until 6 October 2021. The first claim period for JobMaker starts on 1 February 2021 and businesses must first register with the Australian Taxation Office (ATO). To claim the payment in the first JobMaker period, your business must register by 30 April 2021.
Since the aim of JobMaker is to subsidise an increase in the number of employees a business hires – not to reduce the cost of replacing employees – businesses wishing to claim the payment must also demonstrate increases in both in headcount and employee payroll amount.
Employers will need to send information such as their baseline headcount and payroll amounts to the Australian Taxation Office for compliance purposes.
If you expect an increase in number of employees, contact us for more detail on the eligibility criteria.
AcctWeb
The advice provided is general advice only as, in preparing it we did not take into account your investment objectives, financial situation or particular needs. Before making an investment decision on the basis of this advice, you should consider how appropriate the advice is to your particular investment needs, and objectives. You should also consider the relevant Product Disclosure Statement before making any decision relating to a financial product.
