From 5 August 2020, Apprenticeship Boost (worth up to $16,000) will help employers pay for new and existing apprentices in their first two years of training.
What does this mean for Masterlink hosts?
We take care of the paperwork for our hosts, making accessing this funding easy and hassle-free.
You take on new Masterlink apprentices or retain your current first-year & second-year Masterlink apprentices.
As the employer of our apprentices, Masterlink will apply for Apprenticeship Boost through the Ministry of Social Development.
Masterlink will then pass on the same amount we receive from the government as a credit to the host of each eligible apprentice.
If a Masterlink apprentice is part way through year one or two, the portion of the funding able to be claimed for that apprentice will be passed as a credit to their host.
Any tax liability for this funding will sit with our hosts.
Contact your Regional Manager to discuss taking on a new apprentice HERE
How does the funding work?
If your business takes on a Masterlink apprentice in early August, you will receive the full possible amount of the Apprenticeship Boost—that's $16,000 over 20 months for each new apprentice.
Apprenticeship Boost will be paid for apprentices in their first 12 months of training ($1,000 per month) and for apprentices in their second 12 months of training ($500 per month). The maximum amount of funding available is capped at $16,000 over the duration of the initiative.
How long is Apprenticeship Boost available?
At this stage, Apprenticeship Boost initiative will run for 20 months from August 2020.
Who is eligible?
Employers of first and second-year apprentices who are in a Tertiary Education Commission approved New Zealand Apprenticeship or a Managed Apprenticeship will be able to apply for Apprenticeship Boost.
Apprenticeship Boost applies whether an apprentice has just started their training programme or is nearing the end of their first two years—right up until the apprentice has completed 24 months of their training programme (while the initiative is running).
Apprentices in their third or fourth years are not eligible for Apprenticeship Boost funding as they are over 24 months into their training.
Why is this funding available now?
This government funding aims to provide support for employers as the economy recovers from the impacts of COVID-19.
It has been designed to assist employers retain their existing apprentices—so they can continue to earn and progress towards their qualifications—while also enabling businesses to take on new apprentices.
This initiative recognises that apprentices need more support from employers in their first two years while they are training and developing their skills.
Find out more about Apprenticeship Boost on the Work and Income website HERE