3 Benefits Of The BAC Grant

On a recent webinar, we invited Michael Dunne, co-founder of Epic Sales Group to talk to us about the 50% Wage Subsidy for Eligible Employees. Here’s what he said about the benefits of The BAC Grant – 

The 3 big ones are:

• Upskilling the team in your business. 
• Personal development in your team. So, you can get your team excited because they are gaining a qualification. 
• A hefty wage subsidy that helps you to scale your business. 

Some of areas that you can upskill your team and your business are:

• Marketing
• Leadership
• Logistics
• Admin
• HR
• Sales
• Project Management
• Customer Engagement

In terms of the personal team development:

• They end up receiving a diploma or a certificate, which is very tangible. 
• The electives can be made and customised to the individual’s career. So, you can actually kind of sit down and work out exactly what they need and what they want out of the role. 
• And it provides growth, development, variety, and a huge boost for team morale as well.

Wage Subsidy

If wage is over $56K:

• $28-32K* per FTE team member in NSW
• Up to $26K in other states after quarterly contribution
• Paid 7K quarterly in arrears.

The basic subsidy is $7,000 per quarter if the wage is $56K or over. If it was $40K, you would get 50% of that $40K. But anything over $56K would still be $28K because it’s capped at $56K.

Depending upon the state that you are in, the government training is paid for fully in New South Wales. But in other states, you will still get a hefty amount of money but it’s not quite as much as New South Wales.

Watch the webinar replay, “Accessing the 50% Wage Subsidy for Eligible Employees” on our Facebook page or Book a FREE Strategy Call with an Inspire Accountant.