The Jobs Victoria Fund is providing eligible Victorian employers with wage subsidies of up to $20,000 over 12 months in order to meet the costs associated with taking on new, eligible employees. Of the $250 million fund, at least $150 million will support female employment, with $50 million targeted towards women aged 45 years and over.
If you’re a Victorian employer ready to hire new staff, or are wanting to increase the hours of your existing staff, the Jobs Victoria Fund can financially support you to employ people who have been most affected by the economic impacts of the COVID-19 pandemic. Read on to find out if you’re eligible to receive funding.
What Are the Benefits of the Jobs Victoria Fund?
Under the Jobs Victoria Fund, there are significant benefits for both employers and employees affected by the pandemic.
Benefits for Employees
For unemployed, or underemployed Victorians, the Jobs Victoria Fund provides:
- Employment opportunities for those who have been most heavily affected by the pandemic
- Employment opportunities for members of the community who struggled to secure employment prior to the pandemic
- Steady and secure employment pathways
Benefits for Employers
For Victorian employers, the Jobs Victoria Fund will:
- Provide support to businesses as they recover and grow from the affects of the pandemic
- Address skill shortages within the business
- Contribute significantly towards social responsibility goals
What Levels of Funding Are Available Through the Jobs Victoria Fund?
There are four different levels of funding available to employers who take on eligible employees.
Level 1 Wage Subsidy
Employers who hire the following eligible employees may be eligible to receive up to $20,000 per full-time employee:
- Indigenous Australians and Torres Strait Islander people
- Jobseekers who are registered with a Jobs Victoria Mentor service
- People who have been unemployed for 6 months or more
- Newly arrived migrants who come from a non-English speaking background
- Women who are over the age of 45
- Refugees and people seeking asylum
- People living with a disability
- Single parents
- Veterans
Level 2 Wage Subsidy
Employers who hire the following eligible employees may be eligible to receive up to $10,000 per full-time employee:
- Young people who are under the age of 25
- Men and people who do not identify as female aged 45 years and over
- People who are currently or have been previously employed under the Working for Victoria Initiative
Level 3 Wage Subsidy
Employers who hire the following eligible employees may be eligible to receive up to $10,000 per full-time employee:
- Indigenous Australians and Torres Strait Islander people
- Jobseekers who are registered with a Jobs Victoria Mentor service
- People who have been unemployed for six months or more
- Newly arrived migrants who come from a non-English speaking background
- Women who are over the age of 45
- Refugees and people seeking asylum
- People living with a disability
- Single parents
- Veterans
To be deemed eligible, the employees must have transitioned to a job with the same employer that provides at least 10 hours more per week than their previous job.
Level 4 Wage Subsidy
Employers who hire the following eligible employees may be eligible to receive up to $5,000 per full-time employee:
- Young people who are under the age of 25
- Men and people who do not identify as female aged 45 years and over
- People who are currently or have been previously employed under the Working for Victoria Initiative
To be deemed eligible, the employees must have transitioned to a job with the same employer that provides at least 10 hours more per week than their previous job.
What Employers Are Eligible to Receive the Jobs Victoria Fund?
In order to receive funding from the Jobs Victoria Fund, applicants must meet all of the following criteria:
- Applicants must be operating within Victoria
- Applicants must be the direct employer of the eligible employee and must comply with all employer responsibilities and workplace laws
- Applicants must hold a current WorkCover insurance policy
- Applicants must hold an Australian Business Number (ABN)
- Applicants must have a payroll of less than $40 million in the financial year before the date of application
- Incorporated associations must be incorporated under the Associations Incorporation Reform Act 2012 (Vic), and registered with the Registrar of Incorporated Associations (Consumer Affairs Victoria)
- Public companies must be incorporated under the Corporations Act 2011 (Commonwealth) and be registered with the Australian Securities and Investment Commision (ASIC)
- Labour hire providers must be licensed by the Labour Hire Authority
- Charitable, not-for-profit organisations and entities must be registered with the Australian Charities and not-for-profits Commission (ACNC)
- Trusts must specify the Trustee by first completing a Trustee Declaration Form
What Employers Aren’t Eligible to Receive the Jobs Victoria Fund?
The following employers are ineligible to receive the Jobs Victoria Fund:
- Victorian Public Service and Victorian Public Sector entities
- The Commonwealth Public Sector and Australian Public Service entities
It’s important to note that self employment arrangements are ineligible as they’re not considered as hiring a new employee.
How Do You Apply For the Jobs Victoria Fund?
If your business meets the eligibility criteria outlined above, and you’re interested in supporting people who have been most affected by the economic impacts of the pandemic, you can apply to the Jobs Victoria Fund here .
For further support, reach out to our Melbourne-based BlueRock Employ team , who specialise in payroll, employee entitlements, and legal compliance.
