Looking to hire new staff this year? You may be eligible for financial support.

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5 Aug

The Jobs Victoria Fund and NSW Jobsaver Payments are 2 new state support funds for those looking to hire in VIC and NSW. Check out the eligibility criteria and application process below:

VICTORIA

In addition to the many COVID-19 related supports over 2020, the Victorian state government introduced the Jobs Victoria Fund (JVF) initiative in early 2021.

The JVF is a $250 million fund and pays employers up to $20,000 for hiring qualifying employees for a minimum of 19 hours per week for 12 months.

Under the JVF, companies of all sizes can receive financial support in exchange for hiring employees that have been identified as ‘priority’ jobseekers. Payments are made directly to the employer in three stages over the course of the 12 months.

Who is an eligible employee?

There are 2 levels you could consider:

Level 1 Wage Subsidy ($20,000 based on 1.0 FTE)

women over 45 years
long term unemployed people (6+ months)
Jobseekers registered with a Jobs Victoria partner
Aboriginal and/or Torres Strait Islander people
people with disability
people seeking asylum/refugees
newly arrived migrants from non-English speaking backgrounds

Level 2 wage subsidy ($10,000 based on 1.0 FTE)

young people aged under 25
people over 45 years
veterans
people previously employed under the Working for Victoria initiative

Who is an eligible employer?

To qualify:

You must be based in Victoria;
(If you are a charity) you must be registered with the ACNC; and
You must hire the new employee(s) on or after 16 March 2021 and employ them for at least 12 months on a permanent or fixed term basis.

How do I apply?

Applications are open now and will remain open until all funds have been exhausted.

To apply, you must:

Check your eligibility;
Hire an employee (on or after 16 March 2021); and
Apply to the fund by submitting an online application along with a completed statutory declaration and an employee consent form.

The application is available here.

For more information about the JVF click here.

NSW

The NSW Jobsaver program was introduced in July 2021 to provide economic assistance to employers during the extended lockdown period. Jobsaver will provide cover for 40% of your weekly payroll up to a maximum of $10,000 per week. Sole traders are eligible to receive $1000 a week and businesses with employees will receive a minimum of $1500/week.

Who is an eligible employer?

To apply you must:

Have an ABN;
Prove that your business was operating in NSW on 1 June 2021;
Have turnover between 75k - $50m for the financial year ending 30 June 2020;
Have a 30% or more decline in turnover from 26 June 2021 onwards (compared to the same period in 2019);
Maintain your employee headcount on 13 July 2021; and
(if you are a sole trader) prove that the business is your primary source of income.

If your business does not fall under a ‘highly impacted industry’, you will also need to provide a letter from a tax accountant, tax agent or BAS agent to certify your decline in turnover.

How do I apply?

Applications are open until 18 October 2021. If approved, employers will receive backdated payments from 18 July 2021 onwards.

Applications can be submitted online here.

For more information about assistance in NSW generally, click here.

Outside of NSW and Victoria?

The JobMaker hiring credit is available for employees hired between 7 October 2020 and 6 October 2021. Keep in mind that if you are claiming a subsidy under a state sponsored program, you may not be eligible for a Commonwealth program, or vice versa.

The federal government has also increased the maximum amount payable under the ongoing Commonwealth Wage Subsidy program.

Employers hiring through employment services providers can receive up to $10,000 (GST Inclusive) from 1 July 2021 to 30 June 2022 if they hire employees who are: