#everyoneneedsaplan When Using JobMaker Hiring Credit Incentive Scheme to Hire New Employees for New Positions

The federal government's JobMaker Hiring Credit stimulus package is to be available to eligible employers over 12 months from 7 October, 2020.

Employers can receive up to $10,400 per new employee that has been hired to fill a new position.

The key point to remember is that the position must be new, and is not applicable if the employer hires a new employee to fill an existing position in the business.

Eligible employees aged 16-29 years will receive $200 per week.

Eligible employees aged 30-35 years will receive $100 per week.

To be eligible, the employee must have been in receipt of jobseeker payment, youth allowance (other) or parenting payment for at least one month out of the three months prior to when they were hired, and the employee will need to have worked in the new position a minimum of 20 hours per week, averaged over a quarter.

For further details, contact the ATO or check with your financial adviser.

McKinnon Financial Planning ... because #everyoneneedsaplan