There's a new kid in town: the Youth Bonus wage subsidy, and it can give your business a $10,000 boost.
What is it?
It’s pretty simple. This is a new wage sub that encourages you to hire younger job seekers. You get $6,500 over six months if you hire a Stream A job seeker or $10,000 for a Stream B or C.
Why should I?
Aside from $10,000 to assist your business, it’s important because a) younger workers are generally driven, want to learn and can be quite tech-savvy, which can help your business growth and b) the less youth on welfare, the better the future looks for us all.
Is my business eligible?
Your business needs to tick these boxes:
- Has an Australian Business Number (ABN)
- Hasn’t already received a Youth Bonus wage sub for the same job seeker
- Isn’t a government agency.
Who can I hire?
Your job seeker needs to tick these boxes:
- Be between 15-24 years’ old
- Registered with an employment service provider for at least six months
- Have mutual obligation requirements.
What kind of job does it have to be?
The job you’re offering needs to tick these boxes:
- Minimum of 20 hours a week over six months
- Complies with employment standards (e.g. pays national award wage as a minimum)
- Doesn’t displace an existing employee
- Not a commission based, subcontractor or self-employment position
- Not work for an immediate family member.
What do I have to do?
You can get the Youth Bonus by going to an employment service provider and applying for it. Here’s what to do:
Get in touch with an employment service provider and have a chat to them about the Youth Wage sub. They can point you in the right direction and recommend eligible job seekers that are keen to work in your industry.
Already hired an eligible job seeker from an employment service provider? You can still apply for the Youth Bonus within 12 weeks of the job starting.
When do the payments come through?
Payments are made over six months from the day the job starts. Your employment service provider can help you manage the payments over the six months.