The Budget’s plan to enhance wage subsidies is set to benefit both job seekers and businesses in Australia.
As part of Budget reforms, existing wage subsidies (including those for youth, parents, Indigenous, mature age, and the long-term unemployed) will be streamlined to make them more accessible for employers.
Wage subsidy arrangements will be simplified to be much more flexible and provide job seekers with incentives to break into the Australian workforce.
Employers will have wage subsidies available to them from the first day of a job seeker’s employment. Employers will also have the flexibility to choose how often instalments are paid (fortnightly, monthly or another arrangement) and over what time period.
Rather than being paid out over 12 months, wage subsidies will now be paid out over six months at a flat rate instead of pro-rated instalments.