Funding Amount
10% of the eligible salaries and wages payable to eligible apprentices
Funding Limits
$2,000 per year for each eligible apprentice
Program Contact Details
Email information unavailable
Contact details unavailable
Industry
Trade Professions
What is this funding for?
Tax credit for hiring apprentices
Program Description
The apprenticeship job creation tax credit (AJCTC) is a non-refundable investment tax credit (ITC) equal to 10% of the eligible salaries and wages payable to eligible apprentices in respect of employment after May 1, 2006. The maximum credit an employer can claim is $2,000 per year for each eligible apprentice. If your business hires an eligible apprentice, you qualify to claim the credit. The apprentice should be working in a prescribed trade or Red Seal Trades and the apprenticeship must be registered with a federal, provincial, or territorial government under an apprenticeship program designed to certify or license individuals in the trade.
Find out if your trade is qualified: https://www.red-seal.ca/eng/trades/tr.1d.2s_l.3st.shtml
Steps to Apply
1. Verify that the apprentice is working in a prescribed Red Seal trade and is within the first two years of their apprenticeship contract
2. Ensure the apprenticeship contract is registered with a federal, provincial, or territorial government under an apprenticeship program designed to certify or license individuals in the trade
3. Calculate 10% of the eligible salaries and wages payable to the eligible apprentice, up to a maximum of $2,000 per apprentice per year
4. Complete Form T2038(IND), Investment Tax Credit (Individuals)
5. Claim the Apprenticeship Job Creation Tax Credit on line 41200 of your individual income tax return
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