On 28 September 2021, the Federal Government announced a new wage subsidy aimed at encouraging the completion of apprenticeships. The new subsidy, Completing Apprenticeship Commencements is an extension to the existing Boosting Apprenticeship Commencements (BAC) subsidy launched in 2020.
The BAC wage subsidy supports eligible businesses by providing a 50% wage subsidy for a 12-month period. Employers receiving the BAC subsidy will now be eligible to transition to the Completing Apprenticeship Commencements (CAC) subsidy after this initial 12 months.
Those receiving the CAC subsidy will receive a 10% wage subsidy for the second year of the apprenticeship (up to a maximum of $1,500 per quarter, per eligible apprentice) and a 5% wage subsidy for the third year of the apprenticeship (up to a maximum of $750 per quarter, per eligible apprentice).
Both the BAC and CAC subsidies are available to direct employers and host employers (using a Group Training Organisation) that take on an eligible apprentice between 5 October 2020 and 31 March 2022. Both are available to employers of any size or location.
To find out more about these subsidies from the Department of Education, Skills and Employment, please click here.
Members are encouraged to contact an Australian Apprenticeship Support Network to determine their eligibility for wage subsidies.