Trade Support Loan Application

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How long does it take to get a trade support loan?

It can then take 5- 10 days to reach your bank account. (eg. If you commenced/recommenced on 6/5/20 and have been approved to receive the Trade Support Loan, then on the 6th of each month your payment will be generated. It will then reach your bank account on approximately 11th to 16th of each month). via

Is a trade support loan a help debt?

If you have moved overseas and have a Higher Education Loan Programme (HELP), VET Student Loan (VSL) or Trade Support Loan (TSL) debt, you will have the same repayment obligations as those who live in Australia. via

How are trade support loans paid back?

Your Trade Support Loan needs to be repaid through the tax system once your income reaches the repayment threshold. The amount that must be repaid each year is a percentage of your income. The percentage increases as your income increases: The more you earn, the higher your repayment will be. via

How do I check my trade support loan?

From the navigation menu, select Tax>Accounts>Loan accounts. Your TSL account should be listed there. Click on the hyperlink (under Description) to view the transactions. If you don't have your myGov account linked to the ATO, you can call us to get the balance. via

Can apprentices get grants?

If an apprentice is 19 or older and past their first year they're entitled to the worker rate for their age. Employers in London may be eligible for a £3000 apprenticeship grant. These grants are available to help small-medium sized employers to recruit a new apprentice aged 16 to 24. via

Do apprentices get a tool allowance?

Like other employees, apprentices and trainees are eligible to receive entitlements such as leave (sick leave, annual leave, parental leave, bereavement leave) and allowances (tool allowance, uniform or laundry allowance, travel allowance) as set out in the relevant legislation, industrial award or agreement. via

Are trade support loans interest free?

The TSLs are interest free but indexed annually in line with the consumer price index. As an additional incentive, you'll get a 20 per cent discount on your loan when you have successfully completed your apprenticeship. via

What are apprentices entitled to?

Apprentices have the same rights as other employees. You are entitled to a contract of employment, and a minimum of 20 days paid leave each year, plus bank holidays. via

What is a trade support loan?

What is a Trade Support Loan? A Trade Support Loan can help you pay for your everyday living expenses while you undertake your apprenticeship or traineeship. It is an interest-free government funded loan that is paid in monthly instalments for up to six months at a time. via

What is the role of trade support?

Working under the guidance of a Senior Trader or Investment Manager, a Trade Support role assists with client relations, investment strategy, reporting and risk mitigation. The role has a range of duties and responsibilities and is usually stationed within the finance or accounting department of an organisation. via

What is study and training support loan?

Salary packaging with a Study and Training Support Loan (STSL) Employees who salary package capped general living expenses and/or meal entertainment benefits reduce their taxable income but increase their reportable income for STSL repayment purposes. This can increase your student loan repayments for the year. via

What is the fee help limit?

The FEE-HELP limit is the total amount you can borrow over your lifetime under the FEE-HELP and VET FEE-HELP/ VET Student Loans schemes. In 2019, the general FEE-HELP limit is $104,440 for most students (a higher limit applies for specific medicine, dentistry and veterinary science courses). via

Does the government help with apprenticeships?

The Government will fund 100% of the cost of apprenticeship training for a 16-18 year old for businesses with fewer than 50 employees. For more on how to manage your apprenticeship and funding, you could also talk to your local college or training provider. via

How much do I need to earn to pay HECS?

You pay back your HELP debt through the tax system once you earn above the compulsory repayment threshold. The compulsory repayment threshold is different each year. The compulsory repayment threshold for the 2021-22 income year is $47,014. The compulsory repayment threshold for the 2020-21 income year was $46,620. via

How much do the government pay towards apprenticeships?

In practical terms, this means that the employer will pay 5% towards the cost of Apprenticeship training, and the Government will pay the rest (95%), up to the funding band maximum. via

How many hours should an apprentice work?

Most apprenticeships are offered in partnership with a training organisation (a college or learning provider). Apprentices normally work at least 30 hours a week. However, an apprentice's weekly hours can be reduced if their apprenticeship programme is extended. An apprentice must receive the appropriate minimum wage. via

Who pays the wages of an apprentice?

Employers must also pay their apprentice for time spent training or studying for a relevant qualification, whether while at work or at a college or training organisation. Employers must offer apprentices the same conditions as other employees working at similar grades or in similar roles. via

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