The apprentice incentive scheme provides a premium reduction for NSW employers of apprentices.
The scheme aims to:
- grow the state’s skill base
- encourage employers to hire apprentices
- improve workers compensation outcomes over time, because trained workers are less likely to be injured at work.
This initiative commenced on 31 December 2006 and applies to new or renewed policies that commenced on or after that date.
To be eligible for the apprentice incentive premium reduction you must:
- have a valid workers compensation policy
- have entered into a Department of Education and Training approved ‘training contract’ with the apprentice in a designated trade vocation. The apprentice must be identified in the training contract.
When you renew your workers compensation policy you are required to provide wages declaration forms to your scheme agent. The scheme agent will calculate the apprentice incentive amount based on details you provide about your apprentices on these forms.
For further information go to Growing Our Skills Base: Apprentice Incentive Scheme.