When the 2021 Federal Budget was announced on 6 October 2020, we learned of JobMaker Hiring Credit (JMHC), a new Australian Government initiative to assist with economic recovery in the wake of the COVID-19 pandemic.
The JobMaker Hiring Credit scheme was introduced to help transition unemployed Australians currently receiving JobSeeker payments into gainful employment by offering eligible employers up to $200 per week for each eligible employee hired. It is expected that this will support around 450,000 new positions for young Australians. It will run from 07 October 2020 through to 06 October 2022.
So how does it work?
The general process is much like with JobKeeper.
Assess Eligibility > Register > Employee Nomination > Notify via Single Touch Payroll (STP) > Process claim in arrears.
After assessing your eligibility as an employer, you or your registered tax or BAS agent will be able to register directly through either ATO Online Services or the Business Portal. You will also need to assess each new hire's eligibility and provide them with a JobMaker Employee Notice to be filled in and returned. Notification of eligible employees will then be submitted to the ATO by reporting a JMHC-NOM Other Type Allowance through your STP Submissions. You will also need to notify the ATO when an eligible employee meets the minimum hours test by reporting a JMHC-PXX (where XX represents the period you are reporting eligibility for) Other Type Allowance through your STP Submissions.
The JobMaker Hiring Credit for the first JobMaker period (7 October 2020 to 6 January 2021) can be claimed between 1 February 2021 and 30 April 2021 by you or your registered tax or BAS agent directly through either ATO Online Services or the Business Portal. Claims are paid every 3 months in arrears.
It is important to note that you can not claim both JobMaker and JobKeeper simultaneously as per employer eligibility criteria.
Information Resources
If you are using e-PayDay, JobMaker guidance is now available.
For further JobMaker Hiring Credit information please refer to the ATO JobMaker Hiring Credit official page.
Also, refer to the ATO's JobMaker Hiring Credit Guide.
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