New Funding for Apprenticeships and Traineeships
Boosting Apprenticeship Commencements
To assist with COVID-19 recovery, the Australian Government has announced the Boosting Apprenticeship Commencements (BAC) wage subsidy to support employers to take on new apprentices and trainees.
The $1.2 billion wage subsidy will enable eligible employers to receive a wage subsidy of up to 50% if they take on an apprentice or trainee between 5th October 2020 and 30th June 2022.
If your business is keen to hire an apprentice or trainee, there has never been a better time!
Maxima Group Training can find the right candidate for your business and help you to make the most of the BAC subsidy. We can help with:
– Advertising and recruitment
– Shortlisting and interviews
– Paperwork, registration and payroll
– Ongoing mentoring and support
Is my business eligible?
Your business is eligible if:
- you engage an apprentice or trainee between 5th October 2020 and 30th June 2022, and
- your 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 apprentice or trainee’s gross wage paid.
- The wage subsidy is available for a maximum of $7,000 per quarter per eligible apprentice or trainee.
- The subsidy is available for wages paid for the apprentice or trainee’s first 12 months of employment.
Any other information?
- The subsidy is available to employers of any size, industry or geographic location.
- The subsidy is not available for any apprentice receiving any other form of Australian Government wage subsidy e.g. Supporting Apprentices and Trainees or JobKeeper.
- Commonwealth Government and it’s agencies are ineligible for the subsidy. This includes Australia Post and other similar agencies.
- Payments will be made quarterly in arrears, with first claims for the subsidy available from 1st January 2021.
- Final claims for payment must be lodged by 30th June 2023
Want to know more?