At the end of 2020, the Australian JobMaker Hiring Credit scheme was introduced to incentivise employers to hire additional young jobseekers by reducing the costs associated with the hiring process through a series of payments.
The scheme is part of the government’s economic recovery plan, and aims to create jobs and boost skills amongst young Australians to help them get back to work. The credit is available to employers for each new young person they hire between 7 October 2020 and 6 October 2021, and can be accessed to subsidise the cost of employing each additional eligible employee for up to 12 months.
In this Datacom ebook, ‘Jobmaker Payments: a guide for payroll,’ you will learn the basics of JobMaker Hiring Credit payments and gain insights into the following aspects of the scheme that are important for businesses to consider in relation to their payroll processes, including:
- The criteria employers must meet to be eligible for JobMaker Hiring Credit payments.
- The criteria new employees hired must meet to claim JobMaker Hiring Credit payments.
- The eligibility criteria regarding job creation and how to prove this is being met for headcount and payroll.
- The rates of the JobMaker Hiring Credit payment.
- How to report an eligible employee, including how to make a JobMaker nomination and how to report the minimum hours test requirement.
- How to make corrections to information that has already been reported.
- An outline of the next steps employers should take in managing JobMaker Hiring Credit payments after reading the guide.
The JobMaker Hiring Credit scheme is an opportunity for businesses to cultivate new talent and bolster their workforces, while reducing the costs associated with doing so.
By understanding the JobMaker Hiring Credit scheme, organisations can expect to have confidence in their payroll related decisions. The information in this ebook will provide you with the knowledge of how the JobMaker Hiring Credit scheme will impact your business and its payroll processes, so that you are able to successfully adopt and utilise it. By accessing the insights in ‘Jobmaker payments: a guide for payroll,’ organisations will be better equipped to ensure successful payroll management.