The March tax wrap from the ATO is choc-full of valuable information to keep your business safe and compliant.
Businesses encouraged to take advantage of the JobMaker Hiring Credit as the 30 April deadline approaches
Off the back of the latest employment figures which show more than 300,000 additional jobs have been created since October 2020, businesses that have employed new young people are encouraged to check if they are eligible to claim the JobMaker Hiring Credit.
Employers can receive up to $10,400 per year for each new job they fill between 7 October 2020 and 6 October 2021 with an eligible employee aged 16 to 29 years, and up to $5,200 a year for each eligible employee aged 30 to 35 years.
The first JobMaker period ran from 7 October 2020 to 6 January 2021, and claims for this period must be submitted by 30 April 2021.
Deputy Commissioner James O’Halloran said: “As the deadline to claim for the first period approaches on 30 April I encourage all employers to see if they qualify for the scheme, and if eligible, claim the JobMaker Hiring Credit payments.
“Employers who want more information can go to www.ato.gov.au/jobmakerhiringcredit or contact their tax or BAS agent,” Deputy Commissioner O’Halloran said.