It’s never been a better time to invest in training up your team! 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 and upskill your staff with qualifications such as Certificate III in Hospitality and Certificate III in Business.
In a bid to drive job growth, the Government continues to invest in training and Australian Apprenticeships and confirmed it will invest $2.7 billion to extend the highly successful Boosting Apprenticeship Commencements (BAC) wage subsidy program, to support all businesses to take on new apprentices and trainees between the 5th October 2020 and 31st March 2022. This also includes existing staff on your payroll.
This is a tremendous boost to the business community as it continues to face the skills shortage challenges. Under the new measure, the BAC wage subsidy program is estimated to support an additional 100,000 new apprentices and trainees. Businesses receive up to a 50 per cent wage subsidy over 12 months for newly commencing apprentices or trainees signed up by March 31, 2022 capped at $7,000 per quarter, per apprentice or trainee.
Is my business eligible?
Your business may be eligible if:
- you engage an Australian apprentice or trainee between 5 October 2020 and 31 March 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.
How much is the subsidy?
- Eligible employers will receive a wage subsidy of up to 50 per cent of the Australian apprentice’s or trainee’s gross wage paid.
- The subsidy is available for Australian apprentices or trainees commencing or recommencing between 5 October 2020 and 31 March 2022.
- The maximum wage subsidy of $7,000 per quarter is available, per eligible Australian apprentice or trainee, for wages paid in the 12-month period from date of commencement or recommencement.
Anything else I should know?
- The subsidy is available to employers of any size, industry, or geographic location.
- The subsidy is not available for any apprentice or trainee receiving any other form of Australian Government wage subsidy e.g. Supporting Apprentices and Trainees or JobKeeper.
- Payments will be made quarterly in arrears, with first claims for the subsidy available from 1 January 2021.
- Final claims for payment must be lodged by 30 June 2023.
- The 100,000 cap limit has been removed to provide additional support to employers.
If you and your venue or business is interested in welcoming trainees or apprentices on board, don’t delay as time is ticking!
Find out more about how these incentives and eligibility criteria work by contacting Jason McIlroy, Business Development Manager on 0448 222 123 or Aaron Bray, General Manager on 0447 464 333.