NEIS training helps you to achieve a nationally recognised qualification, and is a Centrelink approved activity for up to 13 weeks. This allows time for completing the course (normally six to eight weeks), assessment of your business plan by your NEIS provider and any final business preparations.
If you have prior training or experience in business, you may be eligible for prior learning exemptions.
If your business plan is approved, you will receive NEIS Assistance, which includes:
- NEIS Allowance for up to 52 weeks
- NEIS Rental Assistance for up to 26 weeks (if eligible), and
- business mentoring and support during your first year of business operation.
NEIS Allowance and NEIS Rental Assistance
While participating in NEIS you will receive NEIS Allowance for 52 weeks of business operation. NEIS Allowance is equivalent to the single, 22 or over, no children rate of Newstart Allowance, and is paid fortnightly in arrears, subject to you fulfilling your obligations under your NEIS Participant Agreement.
An advantage of NEIS Allowance is that the amount you receive will not be affected by income from your NEIS business.
You can receive external income while participating in NEIS—that is, income from outside your business, such as from investments or other work. However, your NEIS provider is required to ensure that your NEIS business is your primary, full-time activity. Therefore, if your external income is greater than twice the basic rate of NEIS Allowance in a given financial quarter, it may affect the amount of your NEIS Allowance.
You may also be eligible to receive NEIS Rental Assistance, which is a fixed rate payment made to you for a period of 26 weeks from the date you first receive NEIS Allowance.[/two_third] [one_third last=”yes”]