The Australian Government offers a number of financial incentives to employers to hire new staff who fall into various categories. Restart is one of these.
What is Restart?
Restart is a financial incentive offered to Australian businesses to hire and retain mature-age employees, defined as being 50 years of age and over. The value of the incentive can be up to $10,000. You can choose the intervals at which you receive the payments, and if you prefer, you can receive up to 40% of the total amount within four weeks of the job starting.
The benefits to your business of hiring older workers
Older workers bring wisdom, skills and experience to the job and also make an important contribution to maturity, stability and diversity to your workplace.
At Incentive Employment we believe in the value of an inclusive community and workforce. As a nation with an ageing population we cannot afford to allow the considerable value of older workers go to waste.
What jobs can I offer?
Your job offerings may be either full-time, part-time or casual, and must also be:
- for a minimum of 20 hours per week, averaged over the initial 12-month period
- compliant with employment standards that apply for the position.
There are exclusions but they are few and reasonable. The job you offer must not:
- displace an existing employee
- be a commission-based, subcontracting or self-employment role
- be for an immediate family member.
How much is the subsidy?
The value of the Restart incentive is up to $10,000 for employing an eligible job seeker aged 50 years or over.
You can qualify for the full rate of $10,000 if the employment you offer is for a minimum of 30 hours per week over an initial 12-month period. You will be eligible for a pro-rata wage subsidy if you offer employment to an eligible mature worker for between 15 and 29 hours per week.
The payments consist of regular payments at intervals you may negotiate with us plus a bonus, if you meet the 12-month criterion. You receive up to the full subsidy of $6500 (including GST) over 12 months for employing an eligible mature job seeker for that duration for a minimum of an average 30 hours per week. (The pro-rata payments start at $3250 (including GST) for work between 15 and 29 hours per week.) In addition is the bonus payment of $3500 (including GST) for employment that lasts the full 12 months.
Bundling is available for employers who hire 10 or more eligible job seekers, and you can negotiate upfront lump sum payments to help offset the costs of hiring new staff.
Am I an eligible employer?
If your answer to each of the following criteria is yes, you may be an eligible employer:
- you have an ABN (Australian Business Number)
- you haven’t previously received a financial incentive for the same person
- you are not an Australian, state or government agency.
What you can expect from Incentive Employment
We do not operate on a commission basis. Our service to you is free because our fees are drawn from the government.
Our biggest fees come from placing people for 26 weeks of employment, meaning our interests are aligned with yours and those of the candidates.
Restart offers a fantastic win–win opportunity to expand your business with the input of reliable, flexible and experienced workers who will be ready to contribute from day one.
Contact Incentive Employment today for more information and to get started with Restart.