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.
- People with disability.
- Single parents.
- 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)