Australian Government Stimulus Package
BUSY At Work is committed to supporting employers, apprentices, GTOs and RTOs to ensure as many apprentices and trainees as possible keep their jobs during this unprecedented time.
As part of the Australian Government’s recently announced stimulus package, BUSY At Work can help your business to claim for the 50% wage subsidy assistance for apprentices and trainees. Further support information, including the Job Keeper package, can be found below.
Please note, we are able to assist businesses in QLD and WA. If you are from another State, visit www.treasury.gov.au for more information
50% Wage Subsidy Assistance for Small Business Employers of Apprentices & Trainees
- Wage subsidy of 50% of an apprentice’s or trainee’s wage
- Employers reimbursed up to $21,000 per apprentice or trainee
- 3 monthly installments – up to $7,000 per quarter
- 50% of actual wages paid between 1 January 2020 and 30 September 2020 More information can be found here
Employers can now register and submit a claim for the wage subsidy assistance, which is back-paid from January 1, 2020. If eligible, you will be able to claim up to $7000 a quarter for apprentices and trainees in 2019/20 and 2020/2021 financial years. The wages will be paid up to September 30 this year but the government has stated they will re-assess in September whether this needs extending.
Eligibility Criteria Includes:
- Small businesses (including GTO host employers) employing less than 20 people as at 1 March, 2020
- Apprentice or trainee was in training as at 1 March 2020
- Any occupation, any industry, any qualification, any AQF level, full-time, part-time and school-based
- Employer must provide evidence of paid wages
- Employers of any size (including GTOs) that re-engage an eligible out-of-trade apprentice or trainee are also eligible for the subsidy
- Registration and claim submissions are now open (starting 2 April 2020)
- Subsidy will be back-paid to 1 January 2020
- Payments will be made quarterly
- Claims must be submitted by 31 December 2020
If you are an employer and would like more information, fill out your details below and one of our BUSY team members will be in contact to discuss.
$1500 a fortnight Job Keeper Package and other Support
For information regarding the Job Keeper package for employers (which pays $1500 a fortnight for employees) and all other business, employee and job seeker support available visit the Treasury.gov.au website
Businesses will need to register for the Job Keeper package via the ATO website.
Further Assistance Available to Business
Under the Government’s Stimulus Package, further assistance for business includes:
- Cash flow assistance for small to medium sized businesses of up to $100,000 (minimum of $20,000).
- Temporary relief for financially distressed businesses.
- Increasing the instant asset write-off.
- A time limited 15 month investment incentive (through to 30 June 2021) to support economic growth
- $1 Billion assistance for regions and industries most affected by the Coronavirus outbreak.
You can keep up to date on the Government’s Economic Response to Coronavirus via The Treasury website – https://treasury.gov.au/coronavirus/businesses