The federal opposition thinks the wage subsidy will not encourage employers to employ new staff, especially small business, due to the low amount and the complicated eligibility requirements.
The new rules
Under the proposed rules, a business can receive up to $200 a week for every eligible additional employee between the ages of 16 to 29 years. And also receive up to $100 per week for every eligible additional employe between 30 and 35 years old.
The employee must work a minimum of 20 hours per week, and be receiving JobSeeker, Youth Allowance, or Parenting Payment for a minimum of one month of the three months prior to the hire start date.
The JobMaker criteria
Employers cannot receive JobKeeper payments, and they must also meet all eligibility criteria:
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- be registered for pay-as-you-go (PAYG) withholding,
- have a valid Australian business number (ABN),
- be current with tax lodgements, and
- reporting through Single Touch Payroll (STP).
Concerns exist around the lack of support for workers over 35 yrs. However, the measures are generally welcomed in most sections of the small business community.
Get in touch!
If you have any questions in regards to the Government’s wage subsidy, Contact our professional Accountants today!
If your business is located in Capalaba, anywhere in Queensland or northern NSW. Contact Accountants 2 Business for quality accounting services. Call 07 3823 2344 today or leave your information on our easy to complete contact form.
