18 Feb 2021 Business Measures
JobMaker Hiring Credit: Your complete members-only Guide
The first claim period for the JobMaker Hiring Credit is underway. Eligible employers can access JobMaker for each eligible additional employee they hire between 7 October 2020 and 6 October 2021.
To assist members in quickly and correctly understanding JobMaker, The Tax Institute has developed the JobMaker Hiring Credit guide.
Our members-only JobMaker Hiring guide sets out:
- the key points of the new JobMaker Hiring Credit payment program;
- JobMaker payment rates;
- a schedule of JobMaker periods, and registration and claim deadlines;
- the eligibility conditions for qualifying entities and eligible additional employees;
- how to calculate the JobMaker Hiring Credit entitlement;
- a worked example so you can see at a glance how the scheme applies in practice.
Episode 4 of our TaxVibe podcast, which features James O’Halloran, Deputy Commissioner, Economic Stimulus Branch, ATO, also discusses the JobMaker program.
JobKeeper extension 2 has started
The second JobKeeper extension has started. It covers the JobKeeper fortnights between Monday 4 January and Sunday 28 March 2021.
You might be eligible for JobKeeper extension 2 even if you were not eligible for extension 1.
To be eligible you need to show that your actual GST turnover declined in the December 2020 quarter relative to a “comparable period”. This is generally the December 2019 quarter.
More information can be found here.
JobKeeper still open to new and existing participants
The JobKeeper program remains open to new and existing participants that meet eligibility requirements until the end of the scheme on March 2021. Employers looking to enrol in JobKeeper at this stage should phone the ATO on 13 28 56 so that the ATO can provide tailored advice based on their individual circumstances.
More information on JobKeeper can be found here.
Expansion of Single Touch Payroll: STP Phase 2 commences 1 January 2022
It was announced in the Federal Budget 2019–20 that the data collected through Single Touch Payroll (STP) will be expanded (known as STP Phase 2). Employers will report the additional information through STP on or before each pay day.
The Commissioner has now decided to proceed with a mandatory commencement date of 1 January 2022. More information about applying for additional time, if required, to transition to STP Phase 2 will be provided soon. There is nothing you need to do right now.
More information on STP Phase 2 can be found here.