The Federal Government yesterday announced a new $1.2 billion wage subsidy for apprentices ahead of the full outline of the Federal Budget tomorrow.
The funding is designed to help 100,000 school leavers find employment in trades during the COVID-19 recovery. Our industry can access the grants, where eligible, that will subsidise half an apprentices first year’s wage from 5 October 2020, until 30 September, 2021
- Apprentices/Trainees hired from 5 October 2020 by GTOs are eligible.
- The subsidy will be open to businesses of any size (and again GTOs are eligible)
- 50% of an apprentice/trainee wage will be paid by the Federal Government until 30 September 2021
- Payments will be made quarterly in arrears
- Employers will be not able to access this wage subsidy in addition to the Supporting Apprentices (SAT) scheme and JobKeeper. Employers will need to choose which subsidy to access if they are eligible for more than one.
The Federal Government Fact Sheet can be read here
Master Builders Australia’s statement on the scheme can be read here
Further information can be found at the Federal Department of Education, Skills and Employment website