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GOVERNMENT BUDGET ANNOUNCEMENT
50% WAGE SUBSIDY for EMPLOYERS EMPLOYING A NEW APPRENTICE AND TRAINEE
The 2020 Federal Budget announcement regarding the Boosting Apprenticeship Commencements (BAC) Wage Subsidy should be of interest to all employers.
If you have not already heard of it, please read on.
Information available to date:
Any business that engages an Australian Apprentice on or after 5th October 2020 may be eligible for a subsidy of up to 50% of gross wages up to 30 September 2021.
Any Group Training Organisation (GTO) that engages an Australian Apprentice on or after 5th October 2020 may be eligible for a subsidy of up to 50% of gross wages up to 30 September 2021
The apprentice or trainee must be one of the first 100,000 who commences or recommences on or after 5 October 2020 and registers successfully for the subsidy.
The subsidy is capped at a maximum of $7000 per quarter, regardless of geographic location, occupation, and industry or business size.
The scheme is on offer to all industries across the country – from manufacturing, construction, hospitality, arts, information technology, mining, engineering, to health and business administration.
The subsidy will be paid directly to the employer when they sign up an apprentice or trainee with a commencement or recommencement date on or after 5 October 2020.
The Boosting Apprenticeship Commencement scheme is not available for any apprentice or trainee receiving other type of wage subsidies, such as Supporting Apprentices and Trainees (SAT) or JobKeeper.
Budget Announcement Details:
Government Fact Sheet: