The cost of fuel is rising all around the world. With the ongoing pressure on fuel prices, you should take advantage of the fuel tax credit.
We understand that as a business owner, you should save every dollar, which is crucial for the success of your business. In this article, we intend to give you a brief overview of fuel tax credit so that you can get the maximum benefit for your business.
What is the fuel tax credit?
As the name suggests, the fuel tax credit is a scheme where you can claim back the taxes imposed on fuel used in your business process.
Australia imports fuel from other nations. As a result, excise duty or a customs duty is imposed on the fuel. The government has taken measures to give a credit on the taxes on fuel for certain businesses.
However, there are certain exemptions and several criteria that you must fulfill to claim the fuel tax credit.
How to check the eligibility for the fuel tax credit
As mentioned before, there are specific criteria that you must fulfill to be eligible for the fuel tax credit. The eligibility for the fuel tax credit depends on the type of business, the type of fuel you use, and the nature of the activity for which you use such fuel.
What type of businesses are eligible for the fuel tax credit
Before claiming the tax credit, your business must be registered for Goods and Services Tax (GST) and the fuel tax credit.
Therefore most businesses will be eligible for this scheme as long as they are registered accordingly.
What types of fuels are accepted for the tax credit scheme
Registering the business for GST and fuel tax credit alone is not sufficient. You must use an accepted fuel.
Any taxable fuel you acquired, imported, or manufactured is accepted in the scheme. The taxable fuels generally should include excise duty or customs duty imposed on them. Therefore the taxable fuels eligible for a tax credit are as follows.
- Petrol
- Diesel
- Kerosene
- Fuel oil
- Toluene
- Heating oil
- Transport liquefied natural gas (LNG)
- Transport compressed natural gas (CNG)
- Transport liquefied petroleum gas (LPG)
What kind of activities are accepted in the scheme
With the first two criteria, you should also use the fuel for accepted activities to claim the fuel tax credit. Not all activities are accepted in the scheme. Therefore, if you plan to apply for a tax credit, make sure that you use the fuel for the following activities or reasons.
- Diesel vehicles purchased before 1st July 2006 with a gross vehicle mass (GVM) equal to or greater than 4.5 tonnes traveling on public roads.
- Vehicles with a (GVM) greater than 4.5 tonnes travelling on public roads.
- Can claim the fuel used for agriculture, forestry, fishing, mining, landscaping, property management, etc.
- Fuel used in generators at commercial plants, stationary or portable generators. (This scheme is also applicable for some domestic electricity generations: ATO)
These are only a few of the accepted activities that the Australian Taxation Office (ATO) mentioned. You can visit the ATO’s website for more details on the activities accepted for the fuel tax credit.
ATO has also introduced a simple tool to check the eligibility for the fuel tax credit scheme. Check it out if you plan to apply for the fuel tax credit by yourself.
What are the exemptions to claiming the fuel tax credit?
As you have noticed, not every business, fuel, or activity is accepted in the scheme. These activities and fuels are not accepted under the fuel tax credit scheme.
- Fuels used in light vehicles with a GVM of 4.5 tonnes or less traveling on public roads, for example, small van, a car, or taxi.
- Gaseous fuels used in heavy vehicles which travel on public roads. (But, you can claim for gaseous fuels that power other supporting equipment in heavy vehicles.)
- Fuel you acquired but have not used because it was lost, stolen, or disposed.
- Aviation fuels.
- Some alternative fuels that have already received a grant or subsidy.
How can you claim the tax credit?
You can only claim the fuel tax credit by submitting a Business Activity Statement (BAS), and it cannot be claimed against your annual GST return.
You have to assess your eligibility and calculate the due tax credit amount yourself. You have to submit the relevant BAS before the deadline and indicate the fuel tax credit under a separate label as recommended by the ATO.
ATO advises to keep all the supporting documents and receipts to prove your claim if required.
You should also keep in mind that you must claim the fuel tax credit within four years. The four-year count down starts from the day you should submit the BAS for the taxation period in which you obtained the fuel.
The ATO keeps on changing the fuel tax credit rates from time to time. It is better to check the relevant rates from the ATO website if you are calculating the tax credit by yourself.
ATO has also introduced a credit calculator so that you can calculate your tax credit easily.
Do you need to consult a tax agent?
Hiring a tax agent to claim the fuel tax credit is not a legal requirement. However, you must consider various factors when preparing the BAS and to claim the tax credits.
You should be familiar with the rates and standard requirements of the BAS to claim the credits accurately. A registered BAS or tax agent can help you to manage it more efficiently.
SPS consultants is a certified tax agent body that has helped hundreds of clients. Our expert team is highly updated about the changing tax rates, laws, and obligations. Hence we can help you get the maximum benefit from the tax credit scheme. If you are looking for a certified tax agent you could trust in the industry, please don’t hesitate to contact us today.
Running a business and maintaining all its functions can be difficult for many small businesses, especially if they have a tight budget.
This is why most business owners outsource the accounting function to third-party bookkeepers. Their service is relatively cheap compared to the cost you have to incur as a small business owner to maintain a separate accounting team.
However, most business owners think that accounting and payroll go hand-in-hand. Hence they think a single team can manage both functions. So the golden question is, do bookkeepers manage payroll too? Can a single third party handle both functions?
In this article, we will give you a brief overview of both functions and answer your golden question so that you can hire a suitable party for your business.
Is bookkeeping the same as payroll
No, bookkeeping and payroll are two separate functions.
Payroll is a systematic process that calculates and pays the salaries net of taxes and other due payments to your employees. Whereas bookkeeping relates to recording financial transactions related to your business and updating them daily.
Therefore payroll and bookkeeping are two different functions of a business. But when you get into the latter sections of this article, you will notice that these functions are interconnected.
Which department is responsible for payroll
The Human Resource Department of a business is closely affiliated with handling the organization’s payroll function.
Every business has to perform various yet crucial functions to survive in the industry. Some of these functions are human resource management, accounting and finance, and marketing, etc.
In a large company, there are separate departments to handle each function individually so that their responsibilities are clearly specified. Therefore in a large company, payroll functions fall on to the HR department.
So who is responsible for payroll in a small business? The payroll function can get complicated, along with the number of employees in the business.
Therefore even in a small business, a single person wouldn’t be able to handle multiple functions along with payroll if the business has more employees.In such a situation, it’s better to hire a separate individual to handle the payroll function if you plan to do it internally.
Which information is used in payroll processing?
It’s crucial to calculate and pay your employees’ due salaries and wages on time. The process may seem simple and easy, but it involves a series of calculations which are prone to human errors. This could get more complex with a higher number of employees and the industry you are in.
Why is the payroll process complex? What information should you consider when preparing the payroll of your employees?
First, you must keep track of your employees’ attendance and leaves taken. Then, you should consider the basic salary details, superannuation contributions, salary taxes, insurance contributions, other fringe benefits given to the employees, etc., when generating the final payslip for each employee.
You might have to process a series of data to derive each of the above information. Therefore setting up a payroll system can be complex and could take time.
What do bookkeepers do?
Bookkeepers would record and update the daily financial transactions on the relevant books. The accountants would use these data and prepare the financial statements to present to investors and other stakeholders.
Therefore bookkeeping and accounting are two different roles, although sometimes the term “bookkeeper” is used to define both. Bookkeepers are basically responsible for recording financial data, preparing monthly reports, and bank reconciliation statements.
Payroll information is only a portion of data that the bookkeepers use in order to perform their basic duties. Sometimes they are given advanced duties to file for taxes, prepare financial statements, etc.
Although they are not responsible for payroll, an internal bookkeeper could handle payroll if the business is small in volume and has few employees. But this can be stressful and overload the work for the given individual.
Read more: Xero
Do third-party bookkeepers manage payroll.
Now we have established that bookkeeping and payroll processing are two different roles. Therefore most businesses hire two separate individuals or teams internally to perform these roles.
However, hiring a third party to handle the books and payroll functions could be cost-effective and efficient, especially if you have a small business. So the golden question is, do third-party bookkeepers manage payroll too?
Yes. Although they are two different functions, most third-party bookkeepers would also manage the payroll function. Hiring a single third party to do all these jobs can be highly beneficial and cost-effective for your business.
However, contact your external bookkeeping service to check whether they do payroll too.
Should you contact SPS
If you are looking for a third-party service specializing in accounting, taxing, bookkeeping, and payroll, please don’t hesitate to contact us. We have served hundreds of clients over the past years, and we have helped them manage their businesses efficiently.
SPS Consultants are Xero certified practitioners. We use Xero, which is recognized worldwide to give you an outstanding service
We have customized packages that suit your business regardless of its scale. We also offer you tailor-made packages to suit your business. Place your trust in us, and we will deliver a service beyond your expectations.
Are you struggling to pay the tax obligations and super contributions of your small business? If so, you can get support from the ATO under certain circumstances to overcome the tough times.
Small businesses and even large companies might struggle to fulfill their tax obligations toward the government every now and then.
Don’t worry. This article will educate you about the support you can expect from the ATO to manage difficult times.
In what situations does ATO give support
Your business can face difficulties due to various reasons. However, ATO will not consider every financial hardship faced by the business.
These circumstances must be genuine and cause financial difficulties for the business. Such situations can be:
- Closing the business.
- Taking back a vehicle that is used for business purposes.
- Disruption to an essential service such as electricity.
- Period of review limitations.
- Settlements.
- Pending legal action for non-payment of debts.
- Court orders.
- Other necessities for the business or people you are responsible for.
If you face a difficulty due to some other reason, contact the ATO and ask whether they provide support for such circumstances.
Should you provide evidence to prove your circumstances
Yes. You must provide evidence to prove that your situation is genuine and you need support from the ATO.
This is crucial, and you must have the necessary documents to prove your situation beyond any doubt. Therefore keep all the valuable and essential records with you. You never know when they will become helpful.
What are the evidences considered by the ATO to prove your situation?
You must provide evidence from reliable sources when proving your situation to ATO. Not all evidence will be considered proof. The evidences as given by the ATO may include:
- A current bank notice.
- An eviction notice.
- A repossession notice.
- Other bank notices (for example, an overdraft call).
- A disconnection notice.
- Contract payment schedules.
- Staff pay records.
- Legal documents.
- A notice of impending legal action.
ATO might consider several factors when assessing your claim. They also state that sometimes the requirements might change depending on your circumstance.
How does ATO support your business during difficult times
ATO will carefully analyze the evidence you provide and decide what kind of support is suitable for your business. These are the most common ways that the ATO will support your business.
1. Priority processing the tax returns
You can request the ATO to process your tax return faster. ATO will consider the business’s financial difficulties and take steps to pay your tax credits more quickly.
ATO also states that priority processing will not always guarantee a cash refund. If your business has any tax dues and obligations to other government agencies, then the credits will be used to pay such outstanding amounts first.
You can also apply for priority processing through fax or a tax professional.
2. Adjust the GST registration and reporting
If your business is has a GST turnover of less than $75,000 (less than $150,000 for non-profit organizations), then the ATO will:
∙ Allow you to cancel your GST registration. The fuel tax credit, wine equalization tax and luxury car tax registrations will also be cancelled.
∙ Allow you to remain registered and amend your payment cycle to pay you GST annually or monthly.
∙ You can also continue with the current reporting option and registration if you prefer.
3. Arrange a payment plan
ATO will allow you to propose a payment plan if you owe less than $100,000 to them. You can apply for a payment plan through
- Through their online services.
- Through your BAS agent or a registered tax agent.
- By calling ATO’s automated phone service on 13 72 26 which is available 24 hours a day.
4. Vary your PAYG installments
If your business pays Pay As You Go (PAYG), ATO will allow differing rates or amounts you pay for the current income year.
If your business faces financial difficulty, you can declare that in the next BAS or the installment notice.
ATO will consider your situation and allow you to maintain the varied rate for all installments in the given income year until you make another variation.
5. Assists to pay the super contribution on time
You are legally bound to pay the super contributions on time or a super guarantee charge for the late payments.
As you know, the super guarantee charge will include an interest and an administration fee which would increase the total amount of the super charge compared to the super contribution.
ATO cannot legally waive off these contributions or the charges. However, ATO suggests to submit a Superannuation guarantee charge statement within a month of the quarterly due date. This will help to avoid additional penalties. If you can’t pay in full, ATO will work with you to set up a payment plan.
6. Assists when funds are frozen
If your funds are frozen and you can’t pay the tax obligations, you may be allowed to pay the taxes in installments.
The Australian Securities & Investment Commission (ASIC) can help people with frozen funds and financial difficulty.
Should you get financial advice to manage the business
When you identify that your business will face financial difficulties in the future, you must make immediate plans to manage the funds wisely. If you don’t have the experience to allocate your finances properly, you can consult a professional for help.
Our team at SPS has the experience and expertise to help you in difficult situations. We are professional tax consultants, and we have helped many clients to overcome their financial difficulties over the past years. Don’t hesitate to contact us at (03)-99049261 at your earliest convenience.
Let’s work together and overcome financial hardships.
Goods and services tax (GST) can be an issue for many small businesses. As a business owner, you must know whether your business is eligible to get registered for GST.
If you want to learn more about GST and its applicability for small businesses, you have come to the right place. This article will give you a brief overview of the facts you must know as a small business owner regarding the goods and services tax.
What is GST
The goods and services tax is a general tax imposed by the Australian government on most of the goods and services provided in the country.
Currently, the GST rate is at 10% in 2022. Businesses will add this tax to the selling price of a good or service when selling it to a customer. Businesses can collect the GST charges from the customer, and the collected amount should be paid to the Australian Taxation Office (ATO).
What are the items exempt from GST?
All goods and services are not subjected to a GST. Some items are excluded from the tax.
Most basic food, some educational courses, some medicines, etc., are excluded from GST. Check out the detailed GST exempted goods and services list for more details.
Although you don’t charge GST for GST-free sales, you can still claim GST on the price of purchases that you used when making such sales.
Who should register for GST
Various thresholds are considered when deciding whether a business should be registered for GST in Australia. This mainly depends on the type and structure of the business.
Check out these thresholds to check whether your business must be registered for GST.
- When your existing business has a GST turnover (gross income from all sales minus GST) of $75,000 per year or more.
- When your non-profit organization has a GST turnover of $150,000 per year or more.
- If your new business is expected to surpass the above threshold within the first year of operations.
- When you provide taxi or limousine travel for passengers (including ride-sourcing), regardless of your GST turnover – this applies to both owner drivers and if you lease or rent a taxi.
- If you want to claim fuel tax credits for your business or enterprise.
Should you register before reaching the threshold
You should register for GST when the business exceeds the above thresholds. However, there is no rule saying you cannot register before exceeding the criteria.
There are few benefits of getting registered before meeting the thresholds.
- It gives a positive image of the business. When your business is registered for GST, it automatically plants an idea in the consumer’s mind that your business is well trusted by the customers and exceeds a turnover of $75,000.
- Can claim the GST credits. You can claim the GST on business purchases and expenses if your business is registered. This can reduce a significant cost at the year-end.
How can you register for GST?
Your business must have an Australian Business Number (ABN) before registering for GST. You will get an ABN when you register your business name.
You can register your business for GST by using the following options.
- Through your registered tax agent.
What if you don’t register for GST
If your business is not registered for GST yet, you will get a grace period of 21 days to register for GST. This 21 days countdown will begin from the day you exceed the above thresholds.
If you do not register and pay the GST once you have exceeded the thresholds, you can face several issues.
You will have to pay the GST on sales from the date you were required to register. This could happen even if you don’t charge GST from the customers.
There might even be some penalties and interest payments involved if you neglect the GST.
Check out the detailed list of penalties you will be charged for neglecting the taxes.
How do you pay GST to ATO?
You must submit a Business Activity Statement (BAS) or an annual GST return when you report and pay GST to ATO and when claiming the GST credits.
You can follow various payment cycles when paying the due GST to ATO. These cycles are:
- Monthly – If your GST turnover is $20 million or more.
- Quarterly – If your GST turnover is less than $20 million (unless specified by ATO).
- Annually – If you are voluntarily registered for GST. That is, you are registered for GST, and your GST turnover is under $75,000 ($150,000 for not-for-profit bodies).
You can use the following payment options to pay the ATO after calculating the due GST amount.
- The fastest and easiest ways to pay the ATO is through BPAY or a credit or debit card.
- There are also other payment options such as electronic transfers, direct debits, pay in person at Australia Post, mail, etc.
What if you can’t pay the GST
If you can’t pay the GST on time, ATO recommends contacting them before the due date.
ATO also states that you must submit the BAS even if you can’t pay the tax on time. Otherwise, you can face penalties.
It is wise to contact the ATO before the due date and get into a payment plan since they are flexible with such plans.
Should you hire a tax agent
No, you don’t have to hire a tax agent to handle your taxes. You can do it yourself or even hire a permanent employee.
But preparing the books, BAS, and calculating the taxes can be stressful. As a small business owner, it can be costly to maintain a separate team for accounts and taxes. On the other hand hiring a professional third party would be less costly.
If you are looking for a professional who provides value for your money, then we can help you. We are professional bookkeepers and tax agents who have helped hundreds of small businesses. Don’t hesitate to contact us at (03)-99049261 for further information.
We know how valuable your business is to you. That is why you are searching for the best available payroll software for your small business.
It is essential to calculate the due salaries of your employees and pay them on time. Failure to do so can lead to various legal issues. The payroll process is complex and time-consuming and is prone to multiple human errors.
Therefore, you have taken a wise decision to choose a payroll software instead of doing it manually. This article will give you a brief overview of the best payroll software that we have entrusted over the years to get the job done on time.
What are the features of good payroll software?
Most payroll vendors provide the same features. However, a good payroll system would be user-friendly and allows to operate under a wide scope. We believe that a good payroll software must have the following features.
1. Integrated with accounting
A single software integrating the human resources and accounting departments could save time and eliminate errors. This will save money for the business.
2. High level of security
The software must protect the sensitive data of the organization and the employees. The software must have encryption protocols and passwords to protect such data.
3. Track employee particulars
Good payroll software keeps track of the employees’ leaves, working days, superannuation contributions, other deductions from the salaries and employee earnings, etc.
4. Compliance with the Australian Taxation Office (ATO)
The software must be a single-touch payroll (STP) that complies with the ATO standards. STP software will share the employee wage, super, and tax information with ATO when the company pays the employee.
5. Generate reports and payslips
The software must generate payslips and payroll-related reports that give the HR and accounting departments critical information.
6. Scalability
Your payroll software must be able to handle the growth of your business and adapt to the increase in the number of employees.
7. Low maintenance
The payroll software should not have constant high-priced updates and patches, increasing the maintenance cost.
8. Allows direct deposits to the bank
Good software should facilitate the payment to the employees directly through bank accounts.
Why we believe Xero is the best payroll software for small businesses
Xero is one of the most popular and preferred payroll software in Australia. It has an integrated accounting system along with payroll software. This is ideal for maintaining the books of small scale businesses.
The software comes with total payroll functions that track the employees’ particulars and manage their payments.
The software is ideal for all kinds of businesses regardless of their scale.
Xero is a web-based software that allows you to access the records from any device with an active internet connection. However, the software is encrypted and protected, allowing authorized access only. This helps to protect sensitive information while improving the ease of access.
This software also allows generating payroll reports, payslips, and even depositing payments directly to the employees’ accounts.
Xero is STP compliant and it is recommended by the ATO as integrated payroll software.
How much would Xero cost
The developers have introduced various packages to suit the size of your business and the budget. Therefore, Xero is ideal for small businesses to manage their payroll, books, and accounting functions.
These are the average prices of different packages of Xero, which you can purchase as per your requirement.
Early : $13.50/month
Standard : $26/month
Premium : $33.50/month
Note that these values are average prices obtained from several sources, and they can change from time to time.
Is Xero difficult to use
Xero is user-friendly and easy to use. However, suppose you don’t have any previous experience handling payroll software. In that case, it can be pretty challenging to learn Xero. To overcome such situations, the developers have designed training courses for a reasonable price.
Learning to handle brand new software can be stressful, time-consuming, and could waste a lot of money. However, proper training would facilitate a smooth transition between the systems and save a lot of trouble.
So our recommendation is to check out their trial version and make sure that you can handle it smoothly. If not, take the training course provided by the developers.
Does Xero has a mobile application?
Yes. Xero has six mobile applications which work on both android and apple iOS. These apps provide on-the-go access to payroll details, invoices, bank account balances, etc.
Your employees, with permission, can access this app to request for leave and submit their particulars to the system. This helps the company to go for a paperless system and save a lot of money.
Who are Xero certified advisors
Xero provides certification for those who complete the training course and become proficient with the software’s core features. The certification ensures that the advisors have the skills and knowledge to serve other clients.
It could be costly for a small business to maintain a separate HR team to handle payroll. Therefore you can outsource the process to a third party. If you are outsourcing, then make sure the practitioner or the advisor has the credibility to handle your requirements.
This certificate becomes handy to identify such advisors and practitioners.
Why should you choose SPS?
We are a professional team of tax accountants, business consultants, and bookkeepers in Narre Warren. We have obtained the Xero certification as a certified advisor and practitioner since 2014.
Our team has helped hundreds of clients to manage their payroll function and handle the accounting function simultaneously. As a token of appreciation, Xero has awarded us with a silver championship.
We can help you to manage your payroll, just like we helped our previous customers. Don’t hesitate to contact us at (03)-99049261 for more details.
Are you an employer who has lot of questions about the Jobs Victoria Fund? Then this article is for you.
Let us show you what the Job Victoria Fund is, as brief as possible so that you can clarify most of the doubts in your head.
What is Jobs Victoria Fund
This is a wage subsidy formed by the Victorian Government to support the Victorian businesses to grow and create 10,000 secure jobs. The fund will provide a subsidy of up to $20,000 per eligible employee to cover the cost of hiring new workers for the first 12 months of their employment.
Who must apply for the wage subsidy
The direct employer of the eligible employee must apply for the Jobs Victoria Fund.
An authorized third party (e.g. an accountant) can apply for the fund on behalf of the applicant. However in this situation an authorizing letter from a senior representative of the applicant organization must be provided along with the application.
Can the Jobs Victoria Fund wage subsidy be combined with other government funded wage subsidy programs
Yes you can combine the Victoria Fund with other government funded wage subsidies. However you cannot get funding for more than the cost of employing someone through all funding sources.
Can you employ someone who doesn’t live in Victoria
No. The eligible employees must be residents of Victoria.
They also should be either a Citizen of Australia, hold the permanent residence visa with work entitlements, hold an Australian temporary work visa, hold a student visa and has enrolled in an eligible course of study in Australia or hold an Australian refugee and humanitarian visa with work entitlements.
What type of businesses can apply for the fund
This wage subsidy is only available for the businesses which operate in Victoria.
The sole traders, partnerships, aboriginal businesses, social enterprises, subsidiary companies, private trusts and public companies can apply for the fund given that they meet the following criteria.
- The applicant business must have an Australian Business Number (ABN) and if applicable, an Australian Company Number.
- The business must have a total payroll of less than $40 million in the financial year immediately preceding the date of application.
- The public companies must be registered with the Australian Securities and Investment Commission (ASIC) and such companies must also be incorporated under the Corporations Act 2001 (Commonwealth)
- The incorporated associations must be incorporated under the Associations Incorporation Reform Act 2012 (Vic) and registered with the Registrar if Incorporated Associations, Consumer Affairs Victoria (CAV).
- The Labour Hire Providers must be licensed by the Labour Hire Authority.
- Charitable, not-for-profit organizations and entities that are classified as other incorporated entities must be registered with the Australian Charities and Not-for-profits Commission (ACNC).
- Trusts must specify the Trustee by completing a Trustee Declaration Form. The Trustee entity must also meet eligibility requirements for their entity type as mentioned above.
(Refer Section 3.1 Criterion A – Applicant eligibility of Jobs Victoria Fund Guidelines for more information)
What type of businesses cannot apply for the fund
- The Victorian Public Service and Victorian public sector entities.
- The Australian Public Service and Commonwealth public sector entities.
Can sole traders and partnerships use the fund to pay themselves
The self-employment arrangements are not considered as taking in new employees. Hence they are ineligible for the fund. Therefore sole traders and partnerships cannot use the fund to employ themselves.
Who are priority jobseekers and why have they been identified?
The fund was established to help the people who are mostly affected by the pandemic situation. Accordingly these people were categorized under several priority groups.
The eligible businesses must employ at least one employee from one of the following priority groups in order to apply for the fund.
- Aboriginal people and Torres Strait Islander people.
- Jobseekers registered with a Jobs Victoria Mentor service (formerly Jobs Victoria Employment Network (JVEN).
- Long-term unemployed people (unemployed for six months or more).
- Newly arrived migrants from non-English speaking backgrounds (Refer section 3.2)
- Women aged 45 years and over.
- People seeking asylum and refugees.
- Men and people who do not identify as a woman aged 45 years and over.
- Young people aged under 25.
- People previously or currently employed under the Working for Victoria initiative.
(Refer Section 3.2 Criterion B – Employee eligibility of Jobs Victoria Fund Guidelines for more information)
Summary of eligibility requirements for the Jobs Victoria Fund
There are various factors to consider when checking the eligibility of your business to the fund. However if all the answers to the following questions are yes, then your business is likely to be eligible.
- Are you currently operating in Victoria?
- Are you employing the eligible employees for at least 12 months on a permanent or fixed- term basis?
- Do eligible employees work for at least 19 hours per week (or 8 hours per week if an exemption applies)?
- Do employees belong to at least one of the priority groups of jobseekers?
- Are you the direct employer of the employees?
- Does their job pay the national minimum wage or the applicable award rate with a salary of less than $120,000 per annum excluding superannuation (pro rata for part-time)?
- Is your business a private sector business, subsidiary company, private trust, sole trader, social enterprise or Aboriginal business?
- Was your business payroll less than $40 million in the last financial year?
(Refer the detailed eligibility checklist from here for further information to check your eligibility)
