The government has announced a raft of measures in the federal budget set to help Australia's older employees with careers in the modern workforce.
Initiatives include:
- targeted training to help mature age job seekers aged 45 years and over to enhance employability, develop digital skills and identify opportunities in local labour markets
- training funding of up to $2,000 for workers aged 45 to 70 years to take up reskilling or upskilling opportunities, with the Government contribution to be matched by either the worker or their current employer
- support for mature age workers who are considering early retirement or who are retrenched to look at alternatives to remain in employment
- additional funding for Inclusive Entrepreneurship Facilitators for an increased focus on mature age people to promote entrepreneurship and new business opportunities and to provide business mentoring
- restructured Employment Fund to allow additional wage subsidy places for mature age employees.
Also, workers earning over $263,157, who have multiple employers, will be able to nominate that their wages from certain employers are not subject to the superannuation guarantee from 1 July 2018.
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.
