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Grants and Financial Support for the...

Grants and Financial Support for the Trades

by CareersInTrades.ca
Jobs People Do | JobsPeopleDo.com

There are several grants and other supports available from the federal government, although additional ones provided by the province/territory vary from one jurisdiction to the next. Federal supports are available to apprentices, journeypersons and employers.

The Apprenticeship Incentive Grant is a taxable grant of $1,000 per year or level, up to a maximum amount of $2,000 per apprentice. It is available to registered apprentices once they have successfully completed their first and second year/level (or equivalent) of an apprenticeship program in one of the Red Seal trades.

The Apprenticeship Completion Grant is a taxable grant of $2,000 for registered apprentices who complete their apprenticeship training and obtain their journeyperson certification in a designated Red Seal trade.

Apprentices are also eligible to apply for the Tradesperson’s Tool Deduction. The Tradesperson’s Tools Deduction provides employed tradespersons with an annual deduction of up to $500 to help cover the cost of new tools necessary to their trade.

The Apprenticeship Job Creation Tax Credit is available for employers who hire apprentices. The Apprenticeship Job Creation Tax Credit is a non-refundable tax credit available to employers, equal to 10% of the eligible salaries and wages payable to eligible apprentices in respect of employment after May 1, 2006. The maximum credit is $2,000 per year for each eligible apprentice.

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