Don’t forget that if you hired a new employee aged 35 or younger between 7 October 2020 and 6 October 2021, you may be able to claim the JobMaker Hiring Credit.
To receive JobMaker Hiring Credit payments, you must:
- hold an active Australian business number (ABN);
- be registered for pay as you go (PAYG) withholding;
- be up to date with lodging your income tax and GST returns for the two years up to the end of the JobMaker period for which you are claiming.
You may be able to get payments of:
- up to $200 a week – for each eligible employee aged 16 to 29 years old;
- up to $100 a week – for each eligible employee aged 30 to 35 years old.
Note! JobMaker Hiring Credit payments are made every three months in arrears.
Read our complete November 2021 TaxWise Business Newsletter here.