A New Entrant Traineeship is generally a 24 month qualification which is funded by State Governments ie the training costs are paid by them to the Registered Training Organisation (RTO) and the Commonwealth Government provides incentive payments to the employer.

Currently the IFS is able to deliver 5 of its qualifications to New Entrant Trainees in New South Wales and 2 in South Australia.

The 5 qualifications available in NSW are:

• Certificate III in Financial Services - FNS30107 (also available in SA)
• Certificate IV in Financial Services - FNS40107
• Certificate IV in Financial Services (Finance / Mortgage Broking) - FNS40804
• Certificate III in Business - BSB30101 - (12 months duration) (also available in SA)
• Certificate IV in Business (Frontline Management) - BSB41004

New Entrant Traineeships in Queensland

The IFS is now able to deliver 4 of its qualifications to New Entrant Trainees in Queensland.

These qualifications are not eligible for State Government funding which means that the employer pays the training fee to the IFS using the funding they receive from the Commonwealth Government.

The eligible qualifications are as follows:

• Certificate III in Financial Services - FNS30107
• Certificate IV in Financial Services - FNS40107
• Certificate IV in Financial Services (Finance/Mortgage Broking) - FNS40804
• Certificate IV in Business (Frontline Management) - BSB41004

Eligibility Criteria

To be employed as a New Entrant Trainee a person MUST:

• BE an Australian Citizen or hold a New Zealand passport and have been an Australian Resident for 6 months or more; AND
• BE initially employed as a Trainee or have been employed for less than 3 months full time or 12 months part time by their employer; AND
• BE over 15 years of age and willing to undertake an appropriate qualification in their field of employment.

Employer Benefits

• Providing that the Trainee has no previous qualifications, your organisation should receive eligible to receive incentive payments for them. There are a number of incentives available to employers - generally $4,000 for each eligible trainee.
• NB: If a Trainee has a qualification at a Certificate III or higher they can still be employed as a New Entrant Trainee. Their fees are paid to the RTO by the NSW Department of Education & Training. However, the employer is not entitled to any incentive payments.
• The Training Wage is the minimum wage you can pay a trainee.
• Exemption from Payroll Tax for Trainee wages.
• Trainees may commence at any time throughout the year ie continuous enrolment.
• The Course Fees are paid to the IFS by the Government.
• In NSW the IFS is required by the Department of Education & Training to charge a Student Administration Fee of $384 per Trainee per annum. This fee is paid at enrolment by either the Trainee or the employer.
• You will receive Monthly Progress Reports for your Trainees from the IFS.
• You can recruit and select Trainees yourself OR use government agencies to list your job vacancy free of charge.
• If students complete the Certificate III in Financial Services and want to progress to a Certificate IV in Financial Services qualification they can continue on as a Trainee. The condition attached to this progression is that they must enrol in the Certificate IV within 3 months of completing their Certificate III qualification. Their training fees will then be paid by the NSW Government to the IFS. However, the employer does not receive any further incentive payments.

Paperwork for New Entrant Trainees

• The IFS can supply you with the name and number of your nearest Australian Apprenticeship Centre (AAC) or click here to search on the web.
• The AAC is the organisation that co-ordinates the whole traineeship process. It links the employer, the trainee, the Registered Training Organisation (RTO) and the government together to ensure that everybody fulfils their obligations throughout the period of the traineeship.
• A representative from the AAC will come to your office and go through the Traineeship Application Form with you. This is a FREE service.
• The Trainee must complete an IFS Enrolment Form.