50% WAGE SUBSIDY AVAILABLE FOR TRAINEESHIPS & APPRENTICESHIPS EXTENDED
Now is a great time to take on a trainee. Thanks to the extension of the Australian Government’s Boosting Apprenticeship Commencement initiative, you can be eligible for a 50% wage subsidy for 12 months.
The Federal Government has announced it will further extend the Boosting Apprenticeship Commencements (BAC) wage subsidy for employers as part of the 2021 Federal Budget to March 31, 2022.
Initiatives like this are designed to help businesses like yours employ new trainees/ apprentices and help get your business and the economy, back on track.
Here’s what you need to know about the funding incentive:
What is Boosting Apprenticeship Commencements?
Boosting Apprenticeship Commencements is a Government Wage Subsidy to encourage employers of any size or industry, Australia-wide, to take on apprentices and trainees.
How much funding will you receive?
The scheme provides a subsidy to you of 50% of the wages paid to an eligible apprentice/trainee who commences their apprenticeship or traineeship between 5 October 2020 and March 31 2022
to a maximum of $7,000 per BAC quarter.
Is your business eligible?
Your business may be eligible if:
- you engage an Australian Apprentice or Trainee between 5 October 2020 and March 31 2022; and
- your Australian Apprentice or Trainee is undertaking a Certificate II or higher qualification and has a training contract that is formally approved by the state training authority.
Who is not eligible?
The Australian Apprenticeships Incentives Program Guidelines identify that the following entities are not eligible for BAC:
- Australian Government Entities
- State Government Entities (an exclusion applies if they are a statutory authority, statutory body or a body corporate)
To find out whether your business is eligible or how this relates to employing existing workers, please click here.
When do I need to hire a trainee to be eligible for the funding?
Trainees or apprentices need to be signed up by March 31 2022 for businesses to be eligible for the funding. The great news is that the funding is not capped!
Want to know more
For further information on how to apply for the subsidy, contact AFL SportsReady via the email address [email protected]
More information about the incentives is available on the Australian government website www.australianapprenticeships.gov.au
Together we can create more opportunities for young people across Australia so they can have the opportunity to get experience in the workforce, get up-skilled and gain meaningful employment.