To confront the uncertainty that COVID-19 has left many business owners feeling, the Australian Federal Government has designed a wage subsidy scheme to give businesses more confidence in taking on a young employee.
Tonight at 7pm AEST, the Federal Treasurer’s budget will announce a $1.2 billion wage subsidy scheme for trainees and apprentices under 35 years old. The ‘Boosting Apprenticeship Commencements’ subsidies came into effect on 5 October 2020.
Key elements of this scheme:
- Businesses that hire a new Australian apprentice or trainee will qualify for a 50% wage subsidy
- 50% of the wage (to the value of $7000 a quarter) of a new or recommencing apprentice or trainee will be paid by the Australian Government until 20 September 2021
- This scheme is capped at 100,000 places
- This scheme is not limited to any industries or by business size
- The subsidy is not applicable for those currently on JobKeeper
To qualify, the following criteria must be met:
- Under 35 years of age
- Must be currently receiving a form of welfare payment
- Must be an Australian apprentice or undertaking a Certificate II or higher qualification
- Have a training contract formally approved by the state training authority
Find out more here.