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$1.2 billion announced for apprenticeships for small business

- October 6, 2020 < 1 MIN READ

Small Business Minister Michaelia Cash has announced an additional $1.2 billion to support Australian businesses to employ 100,000 new apprentices or trainees.

Funding injection announced for apprenticeships

Funding is available immediately for businesses who take on a new Australian apprentice to receive a 50 per cent wage subsidy, regardless of geographic location, occupation, industry or business size.

“As a Government, we understand that apprenticeships are an important pathway to get young people into jobs and to ensure there is a skills pipeline to meet the future needs of employers,” said Cash.

“During COVID-19 we have been focused on supporting and creating jobs as well as identifying the skills we need in the economic rebuild.”

The subsidy will be available for up to 100,000 apprenticeships.

Under the new measure, employers will be eligible for 50 per cent of the wages for a new or recommencing apprentice or trainee for the period up to 30 September 2021, up to $7,000 per quarter.

This measure builds on the existing $2.8 billion Supporting Apprentices and Trainees wage subsidy that is helping employers to retain their apprentices and trainees.

More information on the measure is available here

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