360Private

The JobMaker Hiring Credit scheme is an incentive for businesses to employ additional young job seekers aged between 16–35 years, delivering a payment to support the new employees’ wage costs.

Eligible employers can receive the payment for up to 12 months for each additional new eligible employee they hire between 7 October 2020 and 6 October 2021. This has been capped at a maximum of $10,400 per year and employers will be credited up to $200 a week for employees aged 16-29 and up to $100 for those aged 30-35 years.

Eligible employers will be able to register with the ATO from 6th December 2020 and are able to claim payments in arrears from 1 February 2021. Employers will also be able to claim payment on eligible employees for up to 12 months from their employment start date.   Businesses are unable to claim JobKeeper and JobMaker Hiring Credit at the same time.

As well as age being a factor, an eligible employee must have received one of these payment types for at least 28 consecutive days (or 2 fortnights) in the 84 days (or 6 fortnights) prior to beginning employment:

  • JobSeeker Payment
  • Parenting Payment
  • Youth Allowance (except if they were receiving the allowance because they were undertaking full-time study or are a new apprentice).

Further information on how employers can register for the JobMaker Hiring Credit is available at https://www.ato.gov.au/General/JobMaker-Hiring-Credit/          

Alternatively, please contact your Tax Advisor at 360Private who can assist you in reviewing your eligibility as an employer.

Recent posts

  • New Support Package for businesses impacted by COVID-19 restrictions

    Written by 360Private

    Published: 14 January 2022

    New Support Package for businesses impacted by COVID-19 restrictions. The South Australian Government has introduced various support packages for SA businesses impacted by the health restrictions put in place from 27th December 2021. New grants are available to eligible businesses across the state’s tourism, hospitality, gym/fitness and major event industries, as well as a general Business Hardship Grant.
  • Director Identification Number (Director ID)

    Written by 360Private

    Published: 05 November 2021

     Director Identification Number Following the recent introduction of Director Identification Number (Director ID) measures, you will be required to register for a Directors ID if you’re a Director of a company, registered Australian body, registered foreign company or Aboriginal and Torres Strait Island corporation. The new Australian Business Registry Services (ABRS) is responsible for administering the initiative. This Director ID is a unique identifier that will be given to each individual director, or any new directors, to verify their identity. The Director ID is a 15-digit number will assist in preventing the use of false or fraudulent identities, as well as making it easier to trace Director relationships across multiple companies.
  • Important Superannuation Changes for Employers

    Written by 360Private

    Published: 08 October 2021

    Important Superannuation Changes for Employers From 1 November 2021, if you have new employees starting in your business, you may have an extra step to take to comply with choice of fund rules if the employee does not choose a super fund. You will now need to request the employee’s ‘stapled super fund’ details from the Australian Tax Office (ATO). A stapled super fund is an existing super account which is linked, or 'stapled', to an individual employee so that it follows them as they change jobs. These new changes aim to reduce account fees by stopping new super accounts being opened every time an employee starts a new job.
  • New Financial Support Package for SA Businesses

    Written by 360Private

    Published: 16 September 2021

    On Monday 9 August 2021, the Australian Government and Government of South Australia announced a new $3,000 cash grant program for businesses and $1,000 for sole traders in eligible industry sectors - such as hospitality, creative venues and artists, tourism, gyms and transport. South Australian businesses that continue to be significantly impacted by ongoing COVID-19 density and trading restrictions may be eligible for additional financial support. Businesses based in the Adelaide CBD may be eligible for an additional $1,000, acknowledging the significant decrease in city foot traffic.
  • Export grants on offer under revised Govt scheme

    Written by 360Private

    Published: 31 August 2021

    The State Government is offering up to $200,000 in grants to small and medium-sized businesses looking to expand into overseas markets, in a revamp of the SA Export Accelerator (SAEA) Program. First introduced in August 2018, the program has undergone a review, with the funding categories revised in a bid to give a greater pool of small to medium sized businesses access to the grants. New activities within the funding stream have been introduced to support exporters that are seeking entry to new markets. Due to changes in the criteria, companies that were once unable to apply may find that they can now access funding. The programme is administered by the Department of Trade and Investment and provides grants for activities such as marketing and promotion, freight and logistics, export training and market access support. To be eligible, businesses applying must be from one of the nine Growth State priority sectors, which are:

Financial health check

Whether it be a query about superannuation, investments, insurance, mortgage or any other financial based questions, get 360Private to check on your financial health.

Client testimonials

A very experienced team

The team from 360Private have been providing auditing and financial services to our Group of Companies for over 20 years.

We have remained a client over the duration as there has always been a very experienced team of diligent and reliable specialists available, uniquely qualified to support us in our engagement.

Read more ...

 

.

We use cookies

We use cookies on our website. Some of them are essential for the operation of the site, while others help us to improve this site and the user experience (tracking cookies). You can decide for yourself whether you want to allow cookies or not. Please note that if you reject them, you may not be able to use all the functionalities of the site.