MRO Magazine

Ontario Proposes Tax Credit to Encourage Apprenticeship

MRO Magazine   



In its March 27, 2003, budget, the Ontario government proposed to introduce a tax credit to encourage employers to hire apprentices. Under the proposal, corporations and unincorporated businesses in O...

In its March 27, 2003, budget, the Ontario government proposed to introduce a tax credit to encourage employers to hire apprentices. Under the proposal, corporations and unincorporated businesses in Ontario would be eligible for a 10 per cent refundable tax credit for eligible expenditures in respect of apprentices in a qualifying skilled trade.

The tax credit would be increased to 15 per cent for businesses with total payroll costs of not more than $400,000. An employer would be eligible for a tax credit of up to $250 per month per apprentice to a maximum of $6,000 over a 24-month employment period.

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