15th October 2010
The Tools For Your Trade (TFYT) payments are available to any Australian Apprentices undertaking a Certificate III or IV qualification leading to a trade occupation that is listed on the National Skills Needs List. To view this current list, visit australianapprenticeships.gov.au. A Certificate II, III or IV in Horticulture in regional or rural Australia may also be eligible for TFYT payments. Check with MIGAS about whether you apprenticeship is elgible when applying!
The TFYT payments are delivered in five tax exempt cash payments totalling up to $5500 over the life of the apprenticeship.
Payments are made as follows:
- $800 payable after 3 months
- $1000 payable after 12 months
- $1000 payable after 24 months
- $1200 payable after 36 months
- $1500 payable upon successful completion of the Australian Apprenticeship
Australian Apprentices may be eligible for one or more of these payments during the course of their apprenticeship. Your Australian Apprenticeships Centre will assess your eligibilty for each of the payments.
There are alternate payments and eligibility requirements for those apprentices who commenced their Australian Apprenticeship before 1 January 2011. There are also alternate payment months for part-time Australian Apprentices and School-Based Apprentices. Feel free to ask MIGAS for an up-to-date TFYT Fact Sheet.
If you are a trainee, you are not eligible for a tool allowance or the TFYT incentive.