The Federal Government has announced it will extend the Boosting Apprenticeship Commencements (BAC) subsidy for employers who sign up a new apprentice or trainee before September 30th 2021.
The BAC subsidy, which subsidises employers for up to 50 per cent of the gross wages of apprentices and trainees, was previously capped at 100,000 places. The BAC is now uncapped, meaning more employers are eligible for support once JobKeeper ends in March 2021.
The extended scheme will be available to employers who sign up a new apprentice or trainee before September 30th, 2021. Employers will be eligible for up to 50 per cent of the gross wages for an apprentice or trainee for the period up to September 30th 2022 up to a maximum of $7,000 per quarter.
Employers already registered, by signing up a new apprentice or trainee post 5 October 2020, will now receive up to 50% of gross wages paid for the full first year.
The BAC has supported almost 40,000 businesses to date. The extension will create more jobs and support the national economic recovery, including other assistance packages for industries most affected by the COVID-19 pandemic.
More information can be found here.