Great news for employers! The Federal Government recently announced it will subsidise half the wages of new apprentices and trainees.
The measure commenced in October as part of a COVID-19 economic recovery plan and is designed to support employers to engage more apprentices and trainees.
The subsidy, under the Boosting Apprenticeship Commencements (BAC) scheme, supports eligible employers for 50% of the wages for a new or recommencing apprentice or trainee.
It applies for the period up to 30 September 2021, up to a maximum of $7,000 per quarter.
Every Australian business is eligible to receive the subsidy if it engages an apprentice or trainee between 5 October 2020 and 20 September 2021, and the apprentice or trainee is undertaking a Certificate II or higher qualification and has a training contract which is formally approved by the state training authority.
The subsidy applies to the first 100,000 apprentices and trainees who are registered.
BAC is not available for any apprentice or trainee receiving other wage subsidies, such as Supporting Apprentices and Trainees (SAT) or Job Keeper.
To check your eligibility click here.