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Financial cost barrier down – financial incentive open!

Western Australia Funding Exemption

Great opportunities exist for LMA clients to increase their benefit from the payroll tax exemption status of Australian Traineeships in WA.

Most of the LMA programs are eligible for traineeship, and LMA make available the full nominal training durations, ranging from 12 to 24 months. During this time the payroll tax exemption benefit means you are literally doubling the value of using LMA i.e. the primary benefit of improved skills, habits and tangible goal outcomes is accompanied by a positive cash benefit to your business.

You can work out the benefit of the payroll tax exemption by applying 5.5% to your participant’s annual salary and apportioning over the traineeship nominal term. Any employee with Citizenship or Permanent Residency status is eligible.*

Removing the financial cost is opening up the opportunity for companies to benefit from training and development and boost their bottom line. That’s another win-win with LMA!

Below are a number of examples of how this exciting new announcement could impact your business. Ring us to identify your specific situation.

LMA CourseCourse FeeExample Salary Over Nominal TermValue of Payroll Tax ExemptionCash Benefit to Employer
HPM
High Performance Management
$8,300 (GST exempt)$110,000 (24 months)$12,100$3,800
COL
Challenge of Leadership
$5,950 (GST exempt)$95,000 (18 months)$7,837$1,887
SSTLS
Success Strategies for Team Leaders & Supervisors
$3,250 (GST exempt)$70,000 (12 months)$3,850$600

 

Click here to learn about other federal incentives that may apply to your situation.

Click here to see WA program schedule and program information

Click  here to read about the R&D Tax Incentive; if your business is eligible you can obtain tax offsets.

Contact Francesca Irwin on  0414 386 398 or firwin@lma.biz for further information to take advantage of this current opportunity.

*The Australian Apprenticeship Support Network (Apprenticeship Network) is responsible for determining eligibility