Apprenticeship Job Creation Tax Credit
$2,000.00
Tax Credit
Description:
The Apprenticeship Job Creation Tax Credit is a non-refundable tax credit equal to 10% of the eligible salaries and wages payable to eligible apprentices in respect of employment after May 1, 2006.
Comments on Funding:
Funding is 10% of the eligible salaries and wages payable to eligible apprentices.
The maximum credit an employer can claim is $2,000 per year for each eligible apprentice.
Rolling deadline
Eligibility:
Eligible Interns must work in a prescribed trade (listed under Red Seal Trades) in the first two years of their apprenticeship contract.
This contract must be registered with a federal, provincial, or territorial government under an apprenticeship program designed to certify or license individuals in the trade.
Application Steps:
The applicant must claim this tax on its individual income tax return, on line 41200 (41200 was line 412 before tax year 2019) – Investment tax credit, by filing form T2038(IND), Investment Tax Credit (Individuals).
Any unused credit may be carried back 3 years and carried forward 20 years.
Documentation Needed:
No specific documentation has been identified.
Other Things to Note:
About the author
Maurice
