If you are a business ready to employ people who have been affected both economically and financially due to the pandemic effects, The Jobs Victoria Fund is designed to financially support you. It is basically a fund package for employers hiring new staff or increasing the working hours for the existing employees.
The Jobs Victoria Fund is an ongoing grant providing $250 million in wage subsidies to employers in order to assist Victorian businesses to employ at least 10,000 people looking for employment opportunities.
For every Victorian employer, who is ready to hire new staff or increase the hours of existing staff, the Jobs Victoria Fund is here to provide financial support to employ talented people who have recently gone jobless in the wake of COVID-19.
Basic Benefits of Jobs Victoria Fund
As per Jobs Victoria fund, wage subsidies of up to $20,000 is available to meet the costs associated with employing an individual for a period of 12 months. To be eligible for a wage subsidy, an employer must make sure that the job he/she is providing must have at least 19 working hours per week.
The number of wage subsidies a business owner can apply for till the fund is open depends on the business size. Under this fund, at least 60% of jobs supported by the Jobs Victoria Fund will be allocated to women as this pandemic has left a significant impact on their employment opportunities.
Eligibility Criteria To Qualify For Fund
To qualify for the Jobs Victoria funds, businesses must employ someone from one of the priority groups that happen to be most impacted by the pandemic. They include:
• Aboriginal And/Or Torres Strait Islanders
• Jobseekers Registered With Jobs Victoria Mentor
• People Unemployed For Six Months Or More
• Newly Arrived Migrants From Non-English Speaking Nations
• Women Aged 45 Years And Over
• People Seeking Asylum/ Refugees
• People With Disability
• Single Parents And Veterans
• Men And People Who Do Not Identify As A Woman Aged 45 Years
• Young People Aged Under 25
• People Employed Under The Working For Victoria Initiative
To know more about Jobs Victoria Fund and whether you can apply or not, talk to our tax accountants at KPG Taxation. We will be more than happy to assist you.