The Federal government has decided to extend the 50% apprentice wage subsidy. This scheme saw employers sign up 100,000 new apprentices and trainees in just five months.
The Prime Mister is expected to announce the extension today, removing the 100,000 cap and allowing the program to run until September 30.
The $1.2 billion scheme was announced last October as a way of boosting new enrolments, with an end date of 30 September 2021, or once the 100,000 cap was filled.
The program provides a subsidy of 50% of wages paid to an apprentice or trainee up to a maximum of $7,000 a quarter. The scheme took off when announced and saw all the available places taken up within five months.
Today’s changes mean that the scheme will be uncapped and those already signed up as well as new enrolments will receive the wage subsidy for a full 12 months, not just until Septemeber as originally planned.
Reference: TAFE Directors Australia Newsletter