What are wage subsidies?
Wage subsidies are financial incentives available to businesses to help you hire, train and keep eligible job seekers in ongoing and sustainable positions. It was introduced by the government to create more jobs and boost the economy. Wage subsidies also benefit your business as it helps you grow and expand your team.
Your business could receive up to $10,000 (GST inclusive) when you hire new employees who are:
- between 15 and 25 years of age;
- Indigenous Australians; or
- 50 years of age and over.
Up to $6,500 (GST inclusive) is available for new employees who are either:
- between 25 and 29 years of age;
- principal carer parents; or
- individuals who are registered with an employment services provider for 12 months or more.
The subsidy is paid over a 6 month period and the minimum average of 20 hours per week is applicable for this whole time.
Is my business eligible?
To qualify for a wage subsidy, the job offer must be ongoing (full-time, part-time or casual) and be an average of 20 hours (or more) per week over the 6 months of the subsidy agreement.
Your business must:
- Have an Australian Business Number
- Not have previously received a wage subsidy for the same person
- Not be an Australian, State or Territory government agency
- Offer a job that complies with the employment standards for the position – for example, its suitable work and pays, as a minimum, the national award wage
How can I apply?
Contact an employment services provider within 12 weeks of your new employee’s start date to apply for a wage subsidy. Search now to find your local provider or call the Employer Hotline on 13 17 15.