The Federal GovernmentÔÇÖs announcement of its Completing Apprenticeship Commencements (CAC) wage subsidy has been welcomed by AustraliaÔÇÖs largest and only national Apprenticeship Network Provider, MEGT.
The subsidy, worth $716 million, will provide eligible employers with up to 10% of an Australian ApprenticeÔÇÖs gross wages in the second year of their apprenticeship or traineeship, and 5% in their third year.
The CAC is expected to benefit approximately 270,000 apprentices and trainees who are registered for the Boosting Apprenticeships Commencement (BAC) wage subsidy, which began on October 5th last year.
91╣┘═°CEO, Bridie Gildea, says the CAC will help address the challenges that businesses face as COVID-19 continues to impact many of them, while upskilling a new generation of Australian workers.
ÔÇťWe have already seen the positive effect that the BAC wage subsidy has had in terms of the onboarding of new apprentices and trainees since it began. CAC now provides concrete assurance that employers can support their apprentices and trainees to complete their qualifications and progress to the next exciting stage of their careers,ÔÇŁ Ms Gildea said.
ÔÇťThis investment is a commitment to many industry sectors, which will continue to play an important role in AustraliaÔÇÖs future economy.ÔÇŁ