Supporting Apprentices and Trainees is the new government stimulus that provides a wage subsidy to small businesses to support the retention of existing apprentices and trainees in your business.

The subsidy will be available to small businesses employing fewer than 20 employees who retain an apprentice or trainee.

Eligible employers MUST APPLY for the wage subsidy of 50 per cent of the apprentice’s or trainee’s wage for 9 months from 1st January 2020 to 30th September 2020. Employers will be reimbursed up to a maximum of $21,000 per eligible apprentice or trainee ($7,000 per quarter).

The apprentice or trainee MUST have been in-training with a small business as of 1st March 2020.

Employers can register for the subsidy from 2nd April 2020. Final claims for payment must be lodged by 31st December 2020.

PLEASE CONTACT YOUR Australian Apprenticeship Support Network provider, they will be processing the application for this subsidy.

At the time of writing, we have not been provided with an indication of when these payments will be made to the employers.

We will continue to publish further information upon receiving official updates on measures available to support small business and individuals during this time.

Contact us today to discuss your business or personal accounting requirements.