2006-07 Victorian State Budget: $35.6 Million Apprentice Trade Bonus

Fact Sheet

Apprentices will be assisted to continue with their apprenticeship training through a ‘Trade Bonus’ for all first year apprentices

The Apprentice Trade Bonus will help Victorian trade apprentices in the first year of their apprenticeship.

The Trade Bonus aims to provide an incentive for newly enrolled apprentices to continue their studies. It will also help them meet the costs of their training.

Apprentices will be eligible to receive a $500 grant in their first year.

One payment of $250 will be paid six months after the commencement of the apprenticeship, with the second $250 instalment paid at the end of the year, on re-enrolment in training.

The Trade Bonus applies to all apprentices beginning their course after January 1, 2006. The first $250 payments for apprentices who reach their 6 month mark in July are expected to be paid in September 2006.

The 2006/07 State Budget provided total funding for the Apprentice Trade Bonus of $35.62m over four years.