As part of the 2020–21 Budget, the Australian Government recently announced the JobMaker Hiring Credit, a new incentive for businesses to employ additional young job seekers. The purpose of the scheme is to improve the prospects of individuals getting employment in Australia and increase workforce participation as the economy recovers from the COVID-19 pandemic.
Under the new Scheme, employers will be able to claim the JobMaker Hiring Credit for new jobs created on or after 7 October 2020 for up to 12 months from the date the new position is created.
We have set out a number of Q&As for employers on the new JobMaker Hiring Credit based on the information currently available from the Australian government. This is subject to the impending passage of legislation enacting the JobMaker scheme.