Whilst handing down the Federal Budget in October 2020, the Federal Government introduced another wage subsidy scheme aimed at addressing the increase in unemployment due to the ongoing Covid-19 pandemic and called the JobMaker scheme.
The purpose of the JobMaker scheme is to support and incentivise employers to create new jobs within their business and employ additional people, with eligible employers to receive the following ‘hiring credits’:
- $200 a week for each eligible employee hired who is aged 16-29 (up to a maximum credit of $10,400)
- $100 a week for each eligible employee hired who is aged 30-35 (up to a maximum credit of $5,200)
The hiring credit is payable weekly for a period of 12 months following the date on which the employee was hired, provided they are employed by the employer between 7 October 2020 and 6 October 2021.
Amongst other things, the employer must be able to demonstrate:
- an increase in their total employee headcount from 30 September 2020 (the ‘reference date’)