The Morrison Government announced the extension of the Boosting Apprenticeship Commencement (BAC) and Completing Apprenticeship Commencement (CAC) to 30 June 2022 yesterday.
Prime Minister Scott Morrison said the extension of the successful wage subsidy program would build on the record number of Australians currently in trades training. There are currently 350,000 apprentices and trainees in training with 220,000 of these being trade apprentices. Since 24 March 2022, over 73,000 business have reaped the benefits of the financial support provided by the BAC subsidy.
By extending the subsidy, the government expects to support an extra 35,000 apprentices and trainees into employment.
An eligible employer who takes on an apprentice or trainee up until 30 June 2022 will gain access to:
- 50% of the eligible Australian apprentices’ wage in the first year
- Capped at a maximum payment value of $7000 per quarter per Australian apprentice
- 10% of the eligible Australian apprentices’ wages in the second year
- Capped at a maximum payment value of $1500 per quarter per Australian apprentice
- 5% of the eligible Australian apprentices’ wages in the third year
- Capped at a maximum payment value of $750 per quarter per Australian apprentice
Find more information on Boosting Apprenticeship Commencements here or reach out to us to discuss your eligibility.
To find out more, call 13 15 59 today!