MRO Magazine

Ontario Proposes Tax Credit to Encourage Apprenticeship

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...


June 1, 2003
By MRO Magazine
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 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.