Jobs Victoria Fund Wage Subsidy Scheme

Fordham

The Jobs Victoria Fund is providing $250 million in wage subsidies to help Victorian businesses to grow and to create 10,000 secure jobs.

If you are a Victorian employer, the Jobs Victoria Fund can financially support you to employ people who have been most affected by the economic impacts of the pandemic – by hiring new staff or increasing hours for existing employees.

What is it?

A wage subsidy of up to $20,000 per employee for employing someone from a deemed group, who is currently unemployed or underemployed, for 12 months.

Employment conditions

  • At the time of application, the employee must have been in their new role for less than 16 weeks.
  • The role must be at least 12 months in duration.
  • The role must be permanent or fixed term for these 12 months.
  • Minimum of 19 work hours per week.
  • Minimum 8 hours per week where the employee has a disability or provides constant care.
  • The employee must have been unemployed, or underemployed, prior to taking on the role.
  • The employee must be part of at least one priority group (see Priority groups and subsidy available table).
  • Salary must be under $120,000 per annum, pro rata for part-time.
  • Excluding superannuation.
  • The employee must be employed directly through the business.

Number of subsidies available

Number of employees

Limit on number of subsidies available

1

1

2-10

50% of the number of employees (for example, 3 subsidies with a workforce of 7 employees).

11-23

5

24+

25% of the number of employees, capped at 30 subsidies (for example, 9 subsidies for 37 employees).


Note: Employers seeking a wage subsidy for more than three employees must provide at least 60 per cent of the roles to women.

Other requirements

  • The business must have had a payroll of less than $40 million in the prior financial year.
  • The business must be operating in Victoria.
  • Employees must be a resident of Victoria.
  • Any new subsidised roles must not displace existing employees, or their work hours.

Application process

  1. The employee must be employed in their new role prior to making the application.
    • The employee must have been in their new role for less than 16 weeks, at the time of application.
  2. An online application is submitted through the Jobs Victoria website
  3. Jobs Victoria will provide the outcome of the application, including the amount of funding to be offered, and any conditions attached to the funding offer.
  4. There is currently no closing date for applications. Receipt of funding will be subject to the availability of funds in the Jobs Victoria Fund.

Payment timeframe

Timing

Amount

 Requirements

Execution of the grant agreement

30% of the total subsidy

  • Execution of the grant requirement
  • Payslip for eligible employees (provided at time of application)

After 26 weeks of continuous employment of each employee*

30% of the total subsidy**

  • Payslips for eligible employees demonstrating 26 weeks of continuous employment
  • Statutory declaration

After 52 weeks of continuous employment of each employee*

40% of the total subsidy**

  • Payslips for eligible employees demonstrating 52 weeks of continuous employment
  • Statutory declaration
  • Accounts showing acquittal of funds as per agreement
  • Final project outcome report
  • Audit opinion (where the value of the grant exceeds $1000)

*Grant recipients who employ more than one eligible employee must provide milestone requirements for all employees at the same time. Recipients must submit these requirements once the employee who started last has completed their period of continuous employment for the relevant milestone.
**Actual payments will be calculated according to payslip evidence provided at the time of each milestone.

Relevant information

  • Applicants in receipt of or applying for subsidies through other government agencies are advised to check whether the relevant scheme excludes them from receiving a subsidy from another source.
  • A third party (for example Fordham) can submit an application on behalf of the business, if an authorising letter is provided by the business.
  • Jobs Victoria has provided a detailed eligibility checklist including evidence requirements.
  • Read more in the scheme guidelines.

Priority groups and subsidy available

Priority group

Subsidy available

 Requirements
  • Aboriginal and/or Torres Strait Islander people
  • Jobseekers with a Jobs Victoria Mentor service
  • People unemployed for six months or more
  • Newly arrived migrants from non-English speaking backgrounds
  • Women aged 45 years and over*
  • People seeking asylum/refugees
  • People with disability
  • Single parents
  • Veterans

Up to $20,000**

  • New employee
  • Prior to commencing the role, one of:
    • Unemployed
      • Working less than one hour per week; and/or

        • in receipt of Commonwealth unemployment benefits at the full rate.
    • Employed under the Working for Victoria initiative
    • Employed under casual arrangements for three months or less
 Up to $10,000**
  • Transferred within the business to a role that provides at least 10 hours more employment per week.
    • Up to a maximum of 35 hours per week
    • Role must be for the life of the jobs Victoria Fund grant agreement.
  • 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.
  •  

Up to $10,000**

  • New employee
  • Prior to commencing the role, one of:
    • Unemployed
    • Working less than one hour per week; and/or
    • In receipt of Commonwealth unemployment benefits at the full rate.
  • Employed under the Working for Victoria initiative
  • Employed under casual arrangements for three months or less
 Up to $5,000**
 
  • Transferred within the business to a role that provides at least 10 hours more employment per week.
    • Up to a maximum of 35 hours per week
    • Role must be for the life of the jobs Victoria Fund grant agreement.

*Employees must fall within the relevant age group when they start their eligible job with the business.
**Per full-time employee, pro rata for part-time. Full-time is deemed to be 35 work hours per week, under this scheme.

For further assistance please don’t hesitate to contact your Fordham Partner.



This information has been prepared by Fordham Business Advisors Pty Ltd (Fordham) ABN 77 140 981 853 AFSL 488639 and Perpetual Trustee Company Limited (PTCo) ABN 42 000 001 007, AFSL 236643. Perpetual Private advice and services are provided by PTCo. To view the Perpetual Group's Financial Services Guide, please click here.  Fordham’s liability is limited by a scheme approved under Professional Standards Legislation.

This information, including any assumptions and conclusions, is not intended to be a comprehensive statement of relevant practise or law that is often complex and can change. It is general information only and is not intended to provide you with advice or take into account your objectives, financial situation or needs. You should consider, with a financial adviser, whether the information is suitable for your circumstances. To the extent permitted by law, no liability is accepted for any loss or damage as a result of any reliance on this information. This information is believed to be accurate at the time of compilation and is provided in good faith. Fordham is part of the Perpetual Limited group.