South Australian Job Accelerator Grant Scheme
As part of the State Budget announced on 7 July 2016, the Government has announced a Job Accelerator Grant Scheme to encourage South Australian businesses to employ additional full-time, part-time and casual employees (excluding seasonal workers), and maintain them for at least 12 months. Please note employees must be South Australian residents.
Under Scheme there will be two grants offered, with different eligibility requirements as follows -
- A Job Accelerator Grant of up to $10,000 ($5,000 a year for two years) per new Full-Time equivalent (FTE) job created. This is available for businesses liable for payroll tax in SA with total Australian wages of $5 million or less.
- A Job Accelerator Grant for Small Business & Start-ups of up to $4,000 ($2,000 a year for two years) per new job created is available for most businesses not liable for payroll tax. This includes businesses with Australian wages below the payroll tax free threshold (currently $600,000) and most organisations that are exempt from payroll tax (e.g. public benevolent institution). To be eligible for the small business and start-up grant, new employees must work at least 22 hours per week on average over the financial year.
- An additional $5000 ($2500 per year) is available for employers who employ an apprentice or trainee and their occupation is declared to be a 'trade' or 'vocation' under Section 6 of the Training and Skills Development Account 2008 . The additional grant for apprentices and trainees will be backdated to 1 July 2016 so businesses that have already hired a new apprentice or trainee are eligible for the additional grant. A list of declared trades and vocations is available on the Revenue SA website www.revenuesa.sa.gov.au/jobs.
Businesses will be eligible to receive the grant for each additional worker employed by them in a new position between 1 July 2016 and 30 June 2018. An employer must create new jobs in South Australia, where the number of FTE employees increases and is maintained over a 1 or 2 year period from the new positions being created. The employee level can fall for a maximum period of 60 days in total during the year.
Employment must be maintained for a period of at least 2 years for the full grant, or a minimum of 1 year to be eligible for a partial grant. The payment will be made on the first and second anniversary date of employment.
Employers cannot be a Government body or a Group Training organisation, however Charities and not for profits can be eligible employers.
Businesses must register a new employee within 90 days of the employee's commencement date.
Further information about the Job Accelerator Grant Scheme may be found in the Information Circulator 95 found on the website www.revenuesa.sa.gov.au/jobs
If you require more information please contact your advisor at Brentnalls SA.
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The information provided in this information sheet does not constitute advice. The information is of a general nature only and does not take into account your individual financial situation.
It should not be used, relied upon, or treated as a substitute for specific professional advice. We recommend that you contact Brentnalls SA before making any decision to discuss your particular requirements or circumstances.