Small businesses looking for ways to retain full-time apprentices and trainees can access a new wage subsidy scheme to help with cash flow.

The Federal Government’s subsidy to support apprentices and trainees will cover 50 per cent of an apprentice or trainee’s wage from 1 January 2020 to 30 September 2020. Small businesses will receive a maximum reimbursement of $7,000 per eligible apprentice or trainee each quarter.

The subsidy applies to small businesses which employ less than 20 full-time apprentices or trainees. To receive the wage subsidy, apprentices or trainees must have been in-training with a small business as of 1 March. This subsidy is not applicable to employees who started after 1 March.

If you’re a small business with full-time apprentices or trainees, you can apply for the subsidy or check your eligibility here.

The above information is a brief summary only and does not take into account your personal needs and is not a substitute for independent professional advice. We strongly recommend that you speak to your accountant as they will be able to provide you the most suitable advice for your individual circumstance and to ensure that you are also always receiving the most up to date information.