To help with the expenses sometimes associated with starting an apprenticeship, such as purchasing the tools of your trade, moving out of home or saving to buy a car, the Federal Government has developed the Tools for Your Trade initiative.
 
The new Tools For Your Trade payment was announced in the 2009-10 Budget. It combines three initiatives previously available to Australian Apprentices, the Tools For Your Trade voucher, Apprenticeship Wage Top-Up and the Commonwealth Trade Learning Scholarship.

The new payment totals $3,800 and will be paid directly to the Australian Apprentice over the life of their Australian Apprenticeship training.

At what point will each of the five new payments be made?

The new payment will be paid as five tax exempt cash payments totalling $3,800 over the life of the Australian Apprenticeship. Payments will be made as follows:

• $800 payable after three months.
• $800 payable after 12 months.
• $800 payable after 24 months.
• $700 payable after 36 months.
• $700 payable upon successful completion.

Find out if you are eligible for the TFYT initiative by visiting the Tools of Your Trade website.