This is pretty exciting. Like JobKeeper, it needs your business and employees to be eligible.
Anyone hired from the 7th of October you get a credit for 12 months. Similar to JobKeeper, you almost get a subsidy on the wages which is $100 – $200 a week.
This is age-based and it’s aimed at younger people. For employees you hire between 16 and 29 years old, you’re looking at a $200 a week credit. Between 30 and 35 years old you’re looking at $100 a week of credit.
There’s no fall in turnover test for this, so it applies to people who haven’t received JobKeeper. You claim quarterly in arrears from February 2021 onwards.
Reading from the announcements, it’s probably going to be similar to how we claim JobKeeper in the business portal of the taxation portal.
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