Investing in job skills for the future
The vocational education and training (VET) sector is receiving an investment of $525 million over a five year period to equip workers with the skills they need.
Additional Identified Skills Shortage Payment
The Additional Identified Skills Shortage Payment has been created to support up to 80,000 new apprentices over the next five years. Apprentices will be eligible for $2,000 incentive payment, receiving $1,000 after 12 months and $1,000 at the completion of the apprenticeship. Employers will also receive a total payment of $4,000, receiving $2,000 after 12 months and $2,000 at completion. This is in addition to the existing standard employer incentives for apprenticeships of $1,500 at commencement and $2,500 at completion.
Eligible occupations include:
- air-conditioning/refrigeration mechanics,
- vehicle painters,
- bakers, and
- pastry cooks.
Eligible occupations will be reviewed annually to ensure current and expected skills shortages are captured.
New foundational program
The introduction of a new foundational language, literacy, numeracy and digital skills program will help to better individuals skills that are needed in education and employment. Eligibility criteria applies, and participants must:
Be between 15 and 44 years of age as well as being an Australian citizen or permanent resident.
Have left secondary school education.
Be employed or recently unemployed and not registered for an employment services program.
Investing in Skills Organisations
Investments will be made over a four year period to Skill Organisations in areas of human services care and digital technologies. These organisations around the country will trial new ways to update and develop VET qualifications to help meet the growing need for skilled workers.
Establishing a National Careers Institute
Over four years, the Government will establish a National Careers Institute (NCI). The NCI will be driving research into future skills and the national labour market, including arising technological areas such as automation and artificial intelligence. The NCI also aims to help in raising the profile of the VET sector while providing individuals with access to education and career information in one web portal.
Getting PAYG withholding right
17th June 2019
As the end of the financial year approaches, it is important to be aware of changes to compliance obligations for small business owners.
New penalties for business’ pay-as-you-go (PAYG)... more
Healthcare accounting: Mobile apps or bookkeeping services?
3rd June 2019
Healthcare practitioners need an accounting strategy that reflects the medical sector's unique challenges. Time poverty and the need for impeccable customer service makes manual financial management... more
2019 End of Financial Year Checklist
27th May 2019
Maximise your tax deductions for the 2019-20 financial year by planning and reviewing your records.
Here are some top tips for businesses and individuals when it comes to year-end tax planning: