December 2020/January 2021 Newsletter

Please click on the following link to view our monthly accounting/tax newsletter for:

December 2020/January 2021

We would like to highlight the following article in this month’s newsletter:-

JobMaker Hiring Credit
Broadly, the JobMaker Hiring Credit will be available to eligible employers for each new job they create over the next 12 months (7 October 2020 to 6 October 2021) for which they hire an eligible young person, aged 16 to 35 years old. An entity may receive up to $200 per week for each eligible additional employee aged 16 to 29 years and up to $100 per week for each eligible additional employee aged 30 to 35 years.

Eligible Employers
Employers may be eligible for JobMaker Hiring Credit payments if all of the following apply. The employer:

  • has registered for the JobMaker Hiring Credit scheme
  • either
    – operates a business in Australia
    – is a not-for-profit organisation operating in Australia
    – is a deductible gift recipient (DGR) endorsed as a public fund
  • holds an Australian business number (ABN)
  • is registered for pay as you go (PAYG) withholding
  • has not claimed JobKeeper payments for a fortnight that started during the JobMaker period
  • is up to date with income tax and GST returns
  • satisfies the payroll increase and the headcount increase conditions
  • satisfies reporting requirements, including up to date Single Touch Payroll (STP) reporting
  • does not belong to one of the ineligible employer categories.

Please do not hesitate to contact us if you have any queries in relation to your tax and accounting matters.