PM Update

Industry update - Government Wage Subsidy Funding

Written by AFG | 1 February 2022 3:30:00 AM

Are you considering bringing on a new staff member this year? If so have you considered a new to industry candidate?

If you are based in New South Wales, ISM is offering a 12 month traineeship program on various qualifications like FNS40815 Cert IV in Mortgage Broking, this course includes facilitated webinars, individual coaching, online assessment, and guest speaker session. Click here for more information.

Regarding eligibility for traineeships and the Govt wage subsidy funding, the participants will need to meet the following: 

  • New employee or 
  • Started employment within 5/10/2021 - March 2022 period, 
  • Do not hold a Cert IV or higher qualification

You can read some documents MEGT (Traineeship Center) has provided on eligibility and getting started here: Employer and Apprentice.

Further Information

Regarding the Government, wage subsidy rebate of up to $7,000 per quarter. Upon signing up with the local consultant through the traineeship center, will process the required form/application. Upon approval, the employer will then be provided every 3 months an electronic smart form where you can submit the trainee's payslips. The relevant funds will then be released into the business's designated bank account. 

For any trainee located (employed) in NSW. ISM currently has available NSW Smart and Skilled funding (reduced fee or fee-free, upon approval) which can also be taken advantage of with a traineeship. An application form will be provided with the ISM enrolment link, once you are ready to proceed.

If you are based in another state, there are National financial support programs and in Victoria. We will be keeping our eyes peeled for similar incentives and if you come across one please share it with your PM.