Apprentices in high-demand industries (including Chefs) will get up to $5000 in cash payments for the first two years of their training but wage subsidies will be scaled back for employers.
The renamed Australian Apprenticeships Incentives Scheme has been re targeted so that apprentices, as well as employers, receive financial incentives.
Under the scheme, from July 1 employers in “priority occupations” will receive 10 per cent wage subsidy for first and second-year apprentices and 5 per cent for third years. The subsidy caps out at $15,000. Employers in regional areas will receive an additional 5 per cent wage subsidy for each of the three years of an apprentice’s training.
In a measure aimed at tackling dropout rates among young tradies, those aged between 15 and 20 will receive a follow-up call within three months of starting their apprenticeships to iron out any early issues and the government will fund 2500 more in-training support places.
The Budget allocates $2 million for a new “visitor economy online employment and skills platform” as well as $4.8 million for Tourism Research Australia “to capture and analyse more tourism and visitor data to help businesses operating in the visitor economy make improved business decisions,”
Working Holiday makers
To help address skills shortages, the current caps on Working Holiday Makers will have a one off 30% increase in 2022/23.
With the aim of encouraging small businesses to train new staff and upskill existing employees, small businesses that invest in training new employees will receive a $120 tax deduction for every $100 spent on training employees.
Read the budget papers here