Electrical Apprenticeship Grants
The Apprenticeship Incentive Grant (AIG) is a taxable cash grant of $1,000 per year or level, up to a maximum amount of $2,000 per person. It is available to a registered apprentice once he or she has successfully completed his or her first or second year/level (or equivalent) of an apprenticeship program in a designated Red Seal electrical trade.
The Apprenticeship Completion Grant (ACG) is a taxable grant of $2,000 for a registered apprentice who has completed his or her apprenticeship training and obtains his or her journeyperson certification in a designated Red Seal trade.
For more information on these grants, please visit the Service Canada website, call 1-866-742-3644 or visit a local Service Canada Center.
Electrical Tradesperson’s Tools Deduction
The Trades-person’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 deduction applies to the total cost of eligible tools if the following conditions are met:
♦ the total cost exceeds $1,000;
♦ the tools were bought after May 1, 2006;
♦ the purchase was made by an employed tradesperson.
To find out more, please visit the website of the Canada Revenue Agency.
Electrical Apprenticeship Job Creation Tax Credit
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.
To find out more, please visit the website of the Canada Revenue Agency.
PROVINCIAL/TERRITORIAL TAX CREDITS AND DEDUCTIONS
Other financial support for apprentices and tradespersons may be available in your province or territory. Verify the specific requirements with your local apprenticeship office.
· Alberta
· Manitoba
· Nunavut
· Ontario
· Quebec
· Yukon
