The federal government has extended its wage subsidy scheme for apprentices and trainees for another year, in a move it expects will generate 70,000 new positions.
Australian Prime Minister Scott Morrison announced an uncapped increase in the Boosting Apprenticeship Commencements (BAC) funding this morning, estimating it would employ at least a further 70,000 apprentices/trainees across the country up until March 2022.
For many Centre Managers and owners who have signed up trainees and apprentices since the initial announcement in October 2020 this extension will be very positive news.
The extension also means any sign ups between now and September 30 will get a full 12 months of the subsidy.
A 50% Wages Subsidy – WOW!
As part of the BAC funding, employers are eligible to access up to 50 per cent of an apprentice or trainee’s wages for the first year, capped at $7,000 per quarter. New apprentices and trainees have until 30 September 2021 to sign up for the scheme
In addition to hiring new entrants, traineeships / apprenticeships can be offered to existing workers but they have to be advancing in their employment status i.e Casual to Part Time or Part Time to Full Time.
Further information can be found at the Department website at https://www.dese.gov.au/boosting-apprenticeship-commencements