BC Training Tax Credits
The B.C. provincial training tax credits provide refundable income tax credits for employers and employees who are engaged in apprenticeship programs administered through the Industry Training Authority (ITA).
There are three main elements to the training tax credits:
- basic credits for non-Red Seal training programs;
- completion credits for both Red Seal and non-Red Seal training programs; and
- enhanced credits for First Nations individuals and persons with disabilities.
For more information, please see www.sbr.gov.bc.ca/business/Income_Taxes/ttc/
Tradeperson's Tools Deduction
Certified tradespeople and apprentices may be eligible to claim the new tradesperson's tool deduction for tools and equipment purchased for work purposes after May 1, 2006.
For more information, please visit http://www.cra-arc.gc.ca/whtsnw/tls-eng.html
Apprenticeship Job Creation Tax Credit
Your employer can receive a credit of up to $2000 just for hiring you.
For further information please visit:
http://www.cra-arc.gc.ca/whtsnw/pprntcshp-eng.html
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