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Businesses looking to hire additional employees could be receiving up to more than $10,000 a year for every new worker hired, says Australian Taxation Office deputy commissioner James O’Halloran.
The comments from Mr O’Halloran come as businesses can claim payments through the JobMaker Hiring Credit scheme, which is aimed at helping young people who have been disproportionally affected by COVID-19.
Eligible employers can receive payments for each eligible additional employee they hire between 7 October 2020 and 6 October 2021 of:
The ATO called on eligible employers to:
Mr O’Halloran said eligible employers can start claiming payments in arrears every three months from 1 February 2021 for up to 12 months for each additional eligible employee.
He encouraged business owners to check their eligibility as well as check the JobMaker Hiring Credit payment estimator to find out how much they may receive.
“The ATO is here to support employers access the government’s JobMaker Hiring Credit. If business owners need help, they should check out the range of resources available on our website, or speak to their registered tax or BAS agent,” Mr O’Halloran said.
“Employers only need to complete three simple steps to receive the JobMaker Hiring Credit payments.”
Mr O’Halloran said the benefits for business are two-fold. Not only will the business receive stimulus support in response to the COVID-19 pandemic, they will also support a young person’s career.
“Helping young people who are unemployed secure jobs now will build their skills, improve their career prospects over their lifetime and support Australia’s economic recovery,” he said.
Businesses can learn more about the JobMaker Hiring Credit scheme here.