Have you secured the current wage subsidy opportunity as yet? Are you looking to start a new apprentice or trainee?
Under the Boosting Apprenticeship Commencements (BAC) and Completing Apprenticeship Commencements (CAC) wage subsidies, any employer who engages a new apprentice or trainee could be eligible for a subsidy of 50 per cent of the wages paid, to a maximum of $37,000 per employee.
This subsidy is closing on the 31st March, don’t leave it until the last minute!
What is the support to employers?
Any business that engages an Australian apprentice or trainee between 5 October 2020 and 31 March 2022 may be eligible for a subsidy of 50 per cent of the wages paid to this employee for a 12-month period. The 12 month period commences from the start date of the training contract and is paid at a maximum of $7,000 per quarter (up to $28,000 over 12 months). This support is called the Boosting Apprenticeship Commencements (BAC) wage subsidy.
In addition, eligible employers in receipt of the BAC wage subsidy may have support extended for the second and third year of an apprenticeship/traineeship through the new Completing Apprenticeship Commencements (CAC) wage subsidy. Please note, the CAC wage subsidy will only apply to apprenticeships/traineeships where the qualification is over 12 months in duration.
In the second year, eligible employers will receive a wage subsidy of 10 per cent of wages paid to an eligible apprentice or trainee, to a maximum of $1,500 per quarter (up to $6,000 over 12 months). In the third year, eligible employers will also receive a wage subsidy of 5 per cent of wages paid to an eligible apprentice or trainee, to a maximum of $750 per quarter (up to $3,000 over 12 months).
There is no limit on the number of eligible apprentices and trainees your business can employ.
See the following link to all the information: Click Here
