How is the balance of my lifetime cap for the SkillsFuture Mid-Career Training Allowance calculated?
The lifetime cap is drawn down after each training month and upon disbursement of the Training Allowance for the training month.
For example:
Current lifetime cap = 24 months
Number of months the Training Allowance has been disbursed = 5 months
Lifetime cap balance (24 months - 5 months) = 19 months.
This information is sourced from SKILLSFUTURE
Related questions
I am eligible for up to $3,000 per month, capped at 24 months’ lifetime cap. Does this mean that I will have $72,000 in my TA account? Where can I see this balance?
Why is the SkillsFuture Mid-Career Training Allowance capped at 50% of one’s average monthly income, and capped at $3,000 a month?
How will the SkillsFuture Mid-Career Training Allowance be computed?
Why is the SkillsFuture Mid-Career Training Allowance limited to 24 months over an individual’s lifetime?
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