Posted on 12/03/20 in
Stimulus Package Helps Secure Apprenticeship Jobs
As the world wonders what the full impact of the coronavirus will be, on March 12th 2020 the Prime Minister, Mr Scott Morrison, announced a stimulus package to help boost the economy.
The Government is supporting small business to retain their apprentices and trainees. Eligible employers can apply for a wage subsidy of 50 per cent of the apprentice’s or trainee’s wage paid during the 9 months from 1 January 2020 to 30 September 2020. Where a small business is not able to retain an apprentice, the subsidy will be available to a new employer.
Employers will be reimbursed up to a maximum of $21,000 per eligible apprentice or trainee ($7,000 per quarter).
Who is eligible?
The subsidy will be available to small businesses employing fewer than 20 employees who retain an apprentice or trainee. The apprentice or trainee must have been in training with a small business as at 1 March 2020.
Employers of any size and Group Training Organisations that re-engage an eligible out-of-trade apprentice or trainee will also be eligible for the subsidy.
Employers will be able to access the subsidy after an eligibility assessment is undertaken by an Australian Apprenticeship Support Network (AASN) provider, such as Apprenticeship Support Australia.
This measure will support up to 70,000 small businesses, employing around 117,000 apprentices.
What’s the timing?
Employers can register for the subsidy from early-April 2020. Final claims for payment must be lodged by 31 December 2020.
The Federal Government has produced a Factsheet for Supporting Apprentices & Trainees. Check it out here.
If you need advice or support please contact us and speak with one of our consultants by filling out the form below: