The following is now available on the CRA Web site: Did you know… That businesses with an eligible apprentice may be able to claim the apprenticeship job creation tax credit? This is a non-refundable tax credit equal to 10% of the eligible salaries and wages payable to eligible apprentices for employment after May 1, 2006. The maximum credit is $2,000 per year for each eligible apprentice. For more information about the credit, visit http://www.cra-arc.gc.ca/whatsnew/apprenticeship-e.html Source: CRA
The information below is based on legislative proposals and may be subject to change. Apprenticeship Job Creation Tax Credit 1. What is the Apprenticeship Job Creation Tax Credit (AJCTC)? The AJCTC 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. The maximum credit is $2,000 per year for each eligible apprentice. 2. Who qualifies? Any business that hires an “eligible apprentice”. 3. Who is an “eligible apprentice”? An “eligible apprentice” is someone who is working in a prescribed trade in the first two [More]