$10,000 per new job created

has announced a very exciting new policy. It is basically to pay employers $10,000 for every new job they create.

The full speech by Todd Muller is here, and well worth reading.

The details are:

  • Would run from 1 November 2020 to 31 March 2021
  • An employer will get $10,000 for each additional new FTE they employ
  • Capped at $100,000 per employer
  • $5,000 will be paid upon hiring and $5,000 after 90 days
  • Global cap of 50,000 or $500 million
  • Payments are tax free
  • Paid out by IRD who will be able to check against payroll data that hires are additional

Also of interest in the speech are:

  • Believes we should be in Level 1 now
  • Will not increase taxes NZers pay
  • Confirm policy allowing businesses to immediately expense assets up to $150,000
  • Will regularly raise the minimum wage, but not in the middle of a recession
  • Will keep 90 day trial periods

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