Using JobMaker to stimulate business growth

As JobKeeper draws to a close this month, businesses are going to need to find new ways to stimulate their survival and growth. I know it may not make a lot of sense on the surface but hiring one or more new employees might be a good way to do that.
What I’m referring to is the government’s JobMaker hiring credit. It’s been designed as a pseudo-replacement for JobKeeper, by compensating businesses for creating jobs.
In the past week I’ve assisted a business to recruit a new team member and apply for the credit and it’s surprisingly straightforward! It’s in the same section of the government’s business portal and can be completed in just a few clicks.
In order to qualify, a business must increase its headcount and payroll. To be eligible, new employees must:

  • be 16 to 35 years old;
  • commence employment between 7 October 2020 and 6 October 2021;
  • work or be paid for an average of at least 20 paid hours per week during the reporting period;
  • have received the JobSeeker Payment, Parenting Payment or Youth Allowance (except if they are receiving the allowance because they are undertaking full-time study or are a new apprentice) for at least 28 consecutive days (or 2 fortnights) in the 84 days (or 6 fortnights) prior to starting employment. 

So if your business has managed to survive the pandemic and even pivoted into new areas, the JobMaker hiring credit is worth considering as an opportunity to grow your business, create new jobs, give someone a gig, and get a subsidy for it.
Click here to find out more.

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