Extra support for business as BAC extension announced

 

Here is what you need to know

Posted on 11/05/21 in

Big boost for apprenticeships and traineeships

Last night the Hon Josh Frydenberg MP and Federal Treasurer, unveiled Australia's 2021-22 Budget which primarily focuses on bringing unemployment down to pre-pandemic levels and securing Australia's economic growth and recovery.

In a bid to drive job growth, the Government continues to invest in training and Australian Apprenticeships and confirmed it will invest $2.7 billion to extend the highly successful Boosting Apprenticeship Commencements (BAC) wage subsidy program, to support all businesses to take on new apprentices and trainees between the 5th October 2020 to 31st March 2022.  It is estimated with this additional funding, 270,000 new apprentices and trainees are expected to be hired under the wage subsidy scheme by March 2022. 

The Hon Josh Frydenberg said, "we need to equip Australians with the skills they need to get a job today and tomorrow".

This is a tremendous boost to the business community as it continues to face the skills shortage challenges.

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Under the new measure, the BAC wage subsidy program is estimated to support an additional 100,000 new apprentices and trainees by paying businesses a 50 per cent wage subsidy over 12 months for newly commencing apprentices or trainees signed up by March 31, 2022, capped at $7,000 per quarter per apprentice or trainee.


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The Government will also provide an additional 5,000 Gateway Services places to assist in the uptake by women in non-traditional trade qualifications and also in-training support for those women in non-traditional trade occupations. 

If you would like to enquire about our Gateway Services program please contact us here.


As the Australian economy continues to recover, reskilling and upskilling is more important than ever. Apprenticeship Support Australia has long advocated for support for existing employers to upskill and retrain through apprenticeships and traineeships.

Further information can be found on the Department of Education, Skills & Employment website.

If you require additional information please reach out to us here






 

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We are the people to talk to about getting the maximum benefit out of employing or becoming an apprentice or trainee.

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