Coronavirus Economic Response Package (Payments and Benefits) Rules 2020

PART 3 - JOBMAKER HIRING CREDIT PAYMENT  

Division 1 - Preliminary  

SECTION 25   25   SIMPLIFIED OUTLINE  


The jobmaker hiring credit payment is intended to improve the prospects of individuals getting employment in Australia and increase workforce participation in Australia by encouraging employers to hire additional workers.

The jobmaker scheme starts on 7 October 2020 and ends on 6 October 2022.

An employer that creates additional employment for individuals aged 16 to 35 years during the first 12 months of the jobmaker scheme can be entitled to a jobmaker hiring credit payment in respect of the individuals ' first 12 months of employment with the employer.

The amount of a jobmaker hiring credit payment is calculated on the basis that an employer will receive $200 per week for each additional job that is filled by an individual aged 16 to 29 years at the time of starting the job, and $100 per week if the individual is aged 30 to 35 years.

The jobmaker scheme is administered by the Commissioner of Taxation.

The Commissioner pays the jobmaker hiring credit payment in respect of each 3-month jobmaker period, for an entitlement that arises in the period.

Some of the administrative arrangements for the scheme are set out in the Act.




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