No Fixed Amount
Type of Program:
The Apprenticeship Training Tax Credit is a refundable tax credit. The tax credit is based on salaries and wages paid to an apprentice.
Comments on Funding:
The ATTC is not available for apprenticeship programs that commenced on or after November 15, 2017.
- for each qualifying apprenticeship that is an apprenticeship program that commenced on or after April 24, 2015 and before November 15, 2017, the ATTC reimburses employers 25% of eligible expenditures. Small businesses are eligible for a higher credit rate of 30%. The maximum annual amount of the tax credit is $5,000 per qualifying apprenticeship during the first 36 months of an apprenticeship program.
- for each qualifying apprenticeship that is an apprenticeship program that commenced before April 24, 2015, an eligible employer may claim a refundable tax credit for eligible expenditures incurred after March 26, 2009, the ATTC reimburses employers 35 to 45% of eligible expenditures paid during the first 48 months of an apprenticeship program to a maximum annual credit of $10,000 per qualifying apprenticeship.
When It Ends:
The ATTC is available only in respect of apprenticeship programs that began on or before November 14, 2017.
Other Things to Note:
A small business is defined as a corporation, partnership or an individual with one or more unincorporated businesses whose total payroll in the previous taxation year was $400,000 or less.
Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Ontario to identify and maximize government grants to grow their business.
Click here to learn more about Moe’s background and how he can help your business.