09 Mar Breaking News: 50% Apprenticeship and Traineeship Wage Subsidy Extended!
The Morrison government has just launched its $1.2 billion wage subsidy scheme in a bid to create 70,000 new apprenticeship and trainee jobs!
This comes as exciting news to the employers of apprentices and trainees as the wage subsidy incentivises businesses to employ new apprentices and trainees by paying 50% of their wages for the first year, equating to a maximum of $7,000 per employee per quarter.
This wage subsidy is uncapped and available to any business of any size, in any region. Also, it is open to recommencing apprenticeships.
Furthermore, the subsidy extension applies to those already on the scheme. Meaning for businesses who already employed an apprentice or trainee in the first round of the Boosting Apprenticeship Commencements wage subsidy, their wage subsidy will be turned into a full 12-month wage subsidy.
The 50% wage subsidy scheme has proven to be highly successful in the past with around 100,000 apprentices and trainees being employed through the initial Boosting Apprenticeship Commencements scheme, which was announced in October 2020 as a response to youth unemployment due to the coronavirus pandemic.
Please note however, access to this wage subsidy is only available to businesses that employ apprentices or trainees up to 30 September 2021.
Traditionally, this incentive has proven to be extremely popular with the first 100,000 places being allocated in just 5 months, making it an exciting time for employers to invest in creating the future skilled workforce pipeline in trades-based industries.
If you would like to know more about this incentive, or are looking to recruit a new apprentice or trainee for your team, please call Nadia on 1300 365 606.