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There are substantial financial incentives from both the provincial and federal governments available for apprentices who complete both program levels and Provincial and Red Seal certifications. The key is to know how to navigate your way through the forms and requirements and we hope the following guide will provide you with the information to successfully do that.
Description: Annual tax deduction to help cover the cost of new tools necessary to a tradesperson's trade
Who Qualifies: Employed tradesperson
Amount: Maximum $500.00 annual deduction on income tax return
Click here for full details including eligibility and instructions: Tradesperson's Tools Expenses
Links to Canada Revenue Agency:
Description: A taxable cash grant of $1,000 per year (level/block) provided to registered apprentices who have successfully completed their first or second year (level/block) in an apprenticeship program, designated as Red Seal in their province or territory
Who Qualifies: Registered apprentice with the Industry Training Authority (ITA) in an Inter-provincial Standards Red Seal Program trade; Professional Cook 1 and 2 and Baker Level 1 and 2 qualify in BC.
Amount: $1,000 per year up to a $2,000 lifetime maximum
Deadline: Completed application submitted by June 30th of the calendar year following the date you completed the year (level/block) for which you are applying
Click here for full details including eligibility and instructions: Apprenticeship Incentive Grant
Links to Service Canada Forms:
Description: $2,000 taxable cash grant designed to encourage apprentices registered in a designated Red Seal trade to complete their apprenticeship program and receive their journeyperson certification
Who Qualifies: A certified journeyperson in a designated Red Seal trade (Note: if you challenged a designated Red Seal trade (cook or baker) and did not complete an apprenticeship program to achieve certification you are not eligible for the completion grant)
Amount: $2,000 lifetime maximum per eligible journeyperson
Deadline: Completed application submitted by June 30th of the calendar year following the date you obtained your certification
Links to Service Canada Forms:
Description: Effective January 1, 2007 to December 31, 2014, the BC Training Tax Credit consists of a Basic Tax Credit and a Completion Tax Credit with up to $4,000 in fully refundable tax credits for apprentices as they progress through training; with additional funding available to qualified apprentices under the Enhanced Tax Credit.
Who Qualifies: Apprentices that complete level 1 or 2 of a BC recognized (non-Red Seal) program on or after January 1, 2007, Meatcutter qualifies
Who Qualifies:
a) Apprentices who complete level 3 or higher of a Red Seal or non-Red Seal program on, or after, January 1, 2007 - Cook Level 3 (Red Seal), Professional Cook 3 (Red Seal), Baker Level 3 (Red Seal) and Meatcutter Level 2.
b) Challengers who are successful in challenging Red Seal or Non-Red Seal program after January 1, 2007
Note: Indians registered under the Indian Act (Canada) as well as challengers eligible for the disability credit on their income tax return may also claim the Enhanced Tax Credit
Links to Forms:
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