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How Australian Businesses Could Save Money On Their Staff.

07/10/2020 11:01:38 AM

The Australian Government has continued to create initiatives to assist us into a strong economic recovery and help workers thrive.

What will be the key factor in Australia’s economic recovery? Job creation.

Prime Minister Scott Morrison recently addressed this need in a recent media release "Already 760,000 jobs that were either lost or reduced to zero hours as the COVID crisis hit, have come back into our economy. We want to continue to recover what has been lost and get young people into work"

With this in mind the Australian Government has just announced $1.2 billion to go towards apprenticeships. This is on top of the existing $2.8 billion fund for Supporting Apprentices and Trainees.

This added funding will be specifically used to encourage businesses to hire trainees, by offering small and medium businesses what is known as a wage subsidy.

This means that eligible businesses will only need to pay 50% of a trainees wage, with the Government covering the rest up until the 31st of March 2021.

How much will be available to employers? 

Eligible employers and Group Training Organisations can apply for a wage subsidy of 50 per cent of the commencing or recommencing apprentice or trainee’s gross wages paid from 5 October 2020 until 30 September 2021, up to $7,000 per quarter.

Who is eligible?

 Your business may be eligible if: 

  • You engage an Australian Apprentice or trainee between 5 October 2020 and 30 September 2021, and 
  • your Australian Apprentice or trainee is undertaking a Certificate II or higher qualification, and has a training contract that is formally approved by the state training authority.

Are employers eligible for Boosting Apprenticeship Commencements and other incentives available under the Australian Apprenticeships Incentives Program?  

Yes, employers that receive Boosting Apprenticeship Commencements will be eligible for other incentives available under the Australian Apprenticeships Incentives Program.

TMG College Australia has a range of offerings to help Australian’s upskill, including programs for trainees and apprentices.

Some of these programs include:

And more!

If you’re interested in running a traineeship program through your business, get in touch with one of our Course Advisors on 1300 888 864

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