The Federal Government has announced it will extend the deadline for employers to register for the Boosting Apprenticeship Commencements (BAC) wage subsidy.
The new deadline for registrations is 30 June 2022.
The BAC wage subsidy provides employers with up to 50% of gross wages, to a maximum of $7,000 per quarter ($28,000 per annum) for signing up an eligible new or recommencing apprentice or trainee.
Since its introduction on 5 October 2020, more than 73,000 Australian businesses have registered for the BAC initiative.
Employers who are eligible to receive BAC may also be eligible for the Completing Apprenticeship Commencements (CAC) wage subsidy. Under CAC, apprentices or trainees may attract a subsidy of up to 10% of gross wages paid in their second year (to a maximum of $1,500 per quarter), and 5% in their third year (to a maximum of $750 per quarter).
This means employers may potentially receive up to $37,000 in BAC and CAC wage subsidies in the first three years for each eligible new apprentice or trainee.
The BAC wage subsidy extension will create up to 35,000 more jobs and support the national economic recovery.
For more information about the BAC wage subsidy registration extension, click here.
