A wage subsidy is a financial incentive of up to $10,000 (GST inclusive) to help eligible businesses hire new staff.

Employers can access a wage subsidy if they:

• have an Australian Business Number (ABN)
• have not previously received a wage subsidy for the same person
• are not an Australian, state or territory government agency
• offer a job that is expected to be ongoing and for an average of 20 hours per week over the six months of the wage subsidy agreement
• offer a job that complies with employment standards for the position - for example, is suitable work and pays as a minimum the national award wage.

Employers can access a wage subsidy if they:

• work that displaces an existing employee
• commission-based, subcontracting or self-employment positions and
• work for an immediate family member.

Employment service providers will make flexible payments to eligible employers over six months. Employees who are Indigenous Australians have immediate access to wage subsidies of up to $10,000 if all eligibility requirements are met. The following table summarises what subsidies are available to employers:

Wage subsidies are available to eligible participants in jobactive, Transition to Work (TtW) and ParentsNext Intensive Streams. The Restart Wage Subsidy is also available to participants in Disability Employment Services (DES) and the Community Development Programme (CDP).

All wage subsidy placements must average at least 20 hours per week over the 26 week wage subsidy period. Employment must also comply with National Employment Standards.

Jobs can be full time, part time or casual. Apprenticeships and traineeships are also eligible to attract a wage subsidy.

Each wage subsidy is targeted to assist those who need it most. Please talk to an employment services provider to check your eligibility. A list of employment services providers can be found at: www.jobsearch.gov.au/service-providers or by calling the Jobseeker Hotline on 13 62 68 or the National Customer Service Line on 1800 805 260.

The StewartBrown June 2018 Aged Care Financial Performance Survey (ACFPS) incorporates detailed financial and supporting data from over 974 residential aged care facilities and over 24,952 home care packages across Australia. The quarterly survey is the largest benchmark within the aged care sector and provides an invaluable insight into the trends and drivers of financial performance at the sector level and at the facility or program level.

On 16 September the Prime Minister announced the establishment of a Royal Commission into the aged care sector. Consultation is underway until 25 September to develop the Terms of Reference, which the Government anticipates will include:

Overall, the financial results reflect the sector trends of pressure on revenue due to the FY18 freeze on ACFI indexation and ACFI scoring changes; occupancy pressures; and increases in staff costs.

As in prior periods, Estia and Regis both have a net tangible liability which is due to the fact the intangible assets are greater than the net tangible assets.

The ratio of liquid cash assets as a percentage of debt has decreased for all three providers due to the lower levels of cash and cash equivalents held.