As announced in the recent Budget, the Federal Government has extended the Boosting Apprenticeship Commencements scheme (BAC) up until the end of the 2021-2022 financial year 30th June, 2022!
The 50% wage subsidy which is capped at $28,000 is available until June 30th to any employer than undertakes a new employee and applies by this date.
In a nutshell, any employer who take on a trainee by this date can gain access to:
· 50 per cent of the eligible Australian Apprentice’s wages in the first year, capped at a maximum payment value of $7,000 per quarter per Australian Apprentice
· 10 per cent of the eligible Australian Apprentice’s wages in the second year, capped at a maximum payment value of $1,500 per quarter per Australian Apprentice, and
· 5 per cent of the eligible Australian Apprentice’s wages in the third year, capped at a maximum payment value of $750 per quarter per Australian Apprentice.
If you have recently hired a new staff member and they have been working with your team FOR LESS THAN 3 MONTHS you need to apply for this incredible wage subsidy NOW!!!!!!
ONLY 35,000 places are available!!!!!! So, you will need to be quick!!!!
The deadline to apply for this scheme is 30th June, 2022!
Please find below, updated information on how the program now works.
Government incentive of up to $28,000.00 per new employee that undertakes a real estate traineeship to obtain their licence qualification
The Federal Government will subsidise the wages of Trainees and Apprentices by 50% up to a maximum of $28,000.00 per annum, or $7,000 per quarter for a full 12 months from their employment commencement date!
This presents an incredible opportunity for Real Estate Agencies looking to hire new or transfer casual or part-time staff to full-time employment.
The extension of the Federal Government cash injection is designed to get people employed and trained whilst giving employers an incentive to hire new staff.
By enrolling a new team member into Think Real Estate’s Traineeship Program you may qualify for this subsidy and they will achieve their Real Estate Licence qualification by undertaking the CPP41419 - Certificate IV in Real Estate Practice – Class 2 Licence Course.
Given that it is now mandatory for all Certificate of Registration holders to become Class 2 Licence holder, within a maximum of 4 years, this new incentive is a no brainer and all new, casual or part-time staff should be encouraged to apply for this funding through Think Real Estate.
How do you apply:
How does the funding work:
Once your Trainee is approved, you will claim a 50% subsidy of the wages you pay them each quarter. This payment is capped at $7,000.00 per quarter.
Upon receipt of your first quarter payment, you will be required to pay Think Real Estate the sum of $2,000.00 and a second payment of $2,000.00 again upon receipt of the second quarter payment to cover the cost of the Traineeship Program.
Following this payment, all additional payments per quarter will be retained by your office.
To find out more, please contact our office as soon as possible in order to secure this new wage subsidy, Federal Government incentive.
This is an opportunity not to be missed for an Agency Principal looking to expand their business and upskill their new staff.
*Final eligibility is determined by Apprenticeship Support Australia Apprenticeship Network based on the information provided on the training contract and the current Federal Government guidelines. Incentive eligibility is subject to change and neither Think Real Estate nor Apprenticeship Support Australia have discretion to alter Federal Government eligibility assessments.*
Please note: The CPP40307 Certificate IV in Property Services (Real Estate) will be superseded by CPP41419 Certificate IV in Real Estate Practice on 30th September, 2021. For further information please visit training.gov.au.