10% Wage Subsidy available
The Australian Government is investing 2.4 billion over five years in the Australian Apprenticeships Incentive System to build a more inclusive and sustainable economy, ensuring Australians receive quality training while in paid employment.
TRADE SUPPORT LOANS:
Available to apprentices undertaking a:
Certificate III or IV qualification that leads to an occupation listed on the Trade Support Loans Priority List; or
Certificate II, III or IV agricultural qualification specified on the Trade Support Loans Priority List; or
Certificate II, III or IV horticulture qualification specified on the Trade Support Loans Priority List in rural or regional Australia.
Eligible apprentices have access to loans totalling up to $22,890 over the course of the apprenticeship to assist with the expenses associated with living, learning and completing an apprenticeship. School-based and part-time apprentice payments will be paid at the same rate as full-time apprentices.
NEW MINIMUM REPAYMENT THRESHOLD
Payments made to an apprentice through the Australian Apprenticeship Support Loans program are repayable through the taxation system when the minimum income threshold outlined in the Higher Education Support Act 2003 has been reached.
This minimum Higher Education Loan Program (HELP) repayment threshold will change from 1 July 2022. Currently, repayments of income-contingent loans start when an apprentice earns more than $47,014 a year. After 1 July 2022, TSL recipients will need to start repayments when they earn more than $48,361.
The new HELP thresholds can be found at:
Further funding sources are available for both employees and employers outside of the Australian Apprenticeships Incentives Program. A BUSY At Work consultant can help you with more information on what may be available for your specific circumstances and ensure you are getting the support you are entitled to.