With the release of the Federal 2020-21 budget, Law firms will be eligible for cash incentives to employ additional young workers as a part of a new employment incentive program announced last night.
Following the announced JobSeeker and JobKeeper programs, the new JobMaker Hiring Credit will be available to law firms and other employers for each new job they create over the next 12 months from 7 October 2020 for which they hire an eligible young job seeker aged 16 to 35 years old.
Law firms will receive payments for up to 12 months of:
- $200 a week if they hire an eligible young person aged 16 to 29 years; or
- $100 a week if they hire an eligible young person aged 30 to 35 years.
An eligible new hire is a person aged 16 to 35 years old who received JobSeeker Payment, Youth Allowance (Other) or Parenting Payment for at least one of the previous three months at the time of hiring.
To receive the payments law firms must demonstrate that they have increased their overall employment and report their employees’ payroll information to the Australian Taxation Office through Single Touch Payroll.
More information is available at https://budget.gov.au/2020-21/content/jobmaker.htm.