The Job Commitment Bonus is part of the Australian Government’s plan to boost workforce participation and productivity in Australia.
The bonus will provide a payment of $2500 to young Australian job seekers who have been unemployed for 12 months or more, if they find and keep a job and remain completely off welfare for a continuous period of 12 months.
Job seekers will receive a further payment of $4000 if they remain in a job and off welfare for a continuous 24 month period.
The bonus will provide long-term unemployed young Australians with a real incentive to get into paid work.
The bonus will only be available to Australians aged 18 to 30 who are receiving Newstart or Youth Allowance (as job seekers) for 12 months or more.
The Department of Human Services will pay the Bonus directly to the job seeker at the end of the 12 and 24 month qualifying periods upon suitable confirmation that their employment has been ongoing and they have not returned to income support.
The Job Commitment Bonus for Young Australians will commence on 1 July 2014 with the first payments expected from July 2015.
More information about the Job Commitment Bonus will be available shortly.
More information about the support available for job seekers through Job Services Australia is also available.