If you’ve been thinking about getting a new apprentice, now’s the time!
The Boosting Apprenticeship Commencements wage subsidy is here to give you big savings on new apprentices.
Thanks to increased government spending, there’s never been a better time to save on apprenticeship wages and give your business that cash injection it needs.
Read on to learn more about the new apprentice wage subsidy and find out if you’re eligible.
New apprentice wage subsidy
It’s called the Boosting Apprenticeship Commencements program -or BAC for short–and it’s an exciting new opportunity that lets you get 50% of your apprentice or trainee wages subsidised by the government.
You can get up to $7,000 per quarter, or $28,000 for a year, in arrears.
The funding will be available until 100,000 workers have been funded, or until the funding time frame ends on September 30th, 2021.
The federal government is pouring $1.5 billion into this funding stimulus as part of the 2020 national budget and COVID-recovery package.
Boosting Apprenticeship Commencements for existing employees
The Boosting Apprenticeship Commencements program is available to new apprentices and existing employees.
You can get the BAC payment for an existing worker if they meet the following requirements:
- They begin in a trades-based Australian Apprenticeship, or
- They transfer from casual employment to a part-time or full-time Australian Apprenticeship (limit now applies), or
- They transfer from part-time employment to a full-time Australian Apprenticeship (limit now applies).
Employers can also get funding for existing workers if the training is not trade-based, up to a limit of 30 workers. Workers must meet the following requirements:
- They must transfer from a casual to a part-time or full-time Australian Apprenticeship; or
- They must transfer from a part-time to a full-time Australian Apprenticeship.
Are you eligible?
Employers of any size and from any industry across Australia who brought on an Australian apprentice between October 5th 2020 and September 30th 2021 may apply for the wage subsidy.
Your business or Group Training Organisation (GT) can apply if:
- you brought on an Australian apprentice between October 5th 2020 and September 30th 2021, and
- your Australian apprentice or trainee is undertaking a Certificate II or higher qualification, and has a training contract that is approved by the state training authority.
Important dates
Here’s when you’ll be able to submit a claim for the Boosting Apprenticeship Commencements payments in arrears.
| Date Claims Open 1 January 2021 1 April 2021 1 July 2021 1 October 2021 | Wage Period 5 October 2020 to 31 December 2020 1 January 2021 to 31 March 2021 1 April 2021 to 30 June 2021 1 July 2021 to 30 September 2021 |
How to apply
To apply for this fantastic opportunity, get in touch with an Australian Apprenticeship Support Network provider.
Great news for building and construction
While the new apprentice wage subsidy program applies across all industries, there’s no doubt the building and construction industry will benefit enormously.
Included among building and construction industries are businesses and apprentices in general building and civil construction.
This major development will create many more jobs as it allows businesses to employ the workers they previously couldn’t afford to bring on. It will also help strengthen businesses for future growth as the construction industry bounces back after COVID-19.
Need funding for existing apprentices?
Earlier this year, the government pledged a separate $1.3 billion in funding to help small businesses keep their apprentices employed. The scheme is called the Supporting Apprentices and Trainees program.
Similar to BAC, the SAT scheme allows you to get 50% of your apprentice’s wages subsidised for 9 months, within the period January 1st 2020 to March 31st 2021.
To be eligible, your apprentice or trainee must have been in-training as at March 1st 2020 or a small medium business as at July 1st 2020.
Conclusion
The government’s new Boosting Apprenticeship Commencements wage subsidy program promises great benefits for the Australian economy.
Businesses small and large can take advantage of this scheme, which helps you bring on new workers or upskill your existing team.
By taking advantage of these cash savings, your business can prosper through the COVID-recovery and beyond.Want a new apprentice or to train an existing employee? Give CWBTS a call on 1300 4 CWBTS or complete an enquiry form today.
