The Jobs Victoria Fund is now offering up to $20,000 in hiring subsidies.
You may have heard about the $250 million ‘Circuit Breaker’ business support program being offered by the Victorian Government, or the following $209 million in doubled business grants. But did you know that there’s also another $250 million dollar package currently available for Victorian businesses?
The Jobs Victoria Fund is currently providing wage subsidy in Victoria of up to $20,000 for eligible employers who hire jobseekers from the priority groups listed below. The subsidies can be used to cover the costs of taking on new employees for the first 12 months and depending on the size of your business, you can apply for subsidies for up to 20 employees.
What is it?
The wage subsidy program is designed to help secure employment for the Victorians most affected by the COVID pandemic and associated lockdown stress. In particular, this package attempts to address the worsening gender inequality in the post-pandemic workforce, with $150 million of the fund aimed towards securing employment for women.
It’s important to note that you must hire this individual before applying for the subsidy. The priority list includes:
- Women aged over 45 years
- Jobseekers who are long-term unemployed (unemployed for six months or more)
- Jobseekers registered with a Jobs Victoria partner
- Aboriginal and/or Torres Strait Islander people
- People with disability
- Refugees or people seeking asylum
- Newly arrived migrants from non-English speaking backgrounds
- Young people aged under 25
- People over 45 years
- People previously employed under the Working for Victoria initiative.
The fund opened in late March and is currently taking applications. The program will remain available until the allocated funding is exhausted, so be sure to get in quick if you’re interested.
How can I find out more?
The Jobs Victoria website provides detailed information on how to apply for the wage subsidy, as well as a list of resources you’ll need to gather to support your application.
It also breaks down the eligibility requirements for different types of businesses and offers a number of ways to get your head around them, including an easy-to-use online quiz that can determine whether or not your business is eligible. Otherwise, you can use this checklist to work it out yourself.
Are you considering applying for the wage subsidy? We can help you work out the financial side of your application, and offer you advice on the best way to integrate the subsidy into your business’s current financial situation.
If you’re a Victorian business struggling in the face of yet another lockdown, and it’s got you considering making some big changes, then be sure to reach out to us for advice first. We’ll always be available for a chat.
Disclaimer: This advice is general in nature and does not take into account your personal objectives, financial situation or needs. You should consider whether this advice is suitable for you and your personal circumstances before acting on it.