Small business employers of apprentices to get stimulus package
The government has introduced a wage subsidy to support small businesses in retaining their apprentices and trainees. You may be eligible to receive 50 per cent of their apprentice’s wages, capping at $21,000, per apprentice, for the nine months from 1 January 2020 to 30 September 2020.
You will be able to access the subsidy after an eligibility assessment is undertaken by an Australian Apprenticeship Support Network provider. Like other assessments, this is expected to be completed via a SmartForm on the Australian Apprenticeship website.
You can register for the subsidy from 31 March 2020, and final claims of payment must be lodged by 31 December 2020.
We recommend that you review your staffing arrangements and if you believe that you have eligible apprentices, to apply for this government subsidy. The apprentice is required to be on your books as at 1 March 2020 to be eligible.
Please give us a call on 08 8562 4332 if you have any questions regarding this government measure. We’re here to help you every step of the way.
Yield Business Advisory
Yield Business Advisory has a team of qualified experienced professionals to guide clients through the many challenges they may face.
We offer comprehensive business advice and financial solutions, and can assist in the following areas:
- Business and product profitability reviews
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- Analysis of industry benchmarking
- Assist with the purchase and sale of a business
- Bank finance and funding reviews
- Employer obligations
- Business restructuring
- Strategic planning
- Asset protection strategies
- Business valuations.
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Contact us today to see how we can help you and your business.
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