Government subsidies to help small businesses hire!

Did you know that there are a number of grants and subsidies available for assisting small businesses in hiring? In an effort to help individuals find employment from a variety of backgrounds, the government is offering subsidies or tax credits for hiring individuals from in apprenticeships, or other programs.

We have prepared a listing of a variety of programs which may be able to assist you in your hiring needs. In most cases, the program has an application program or it has to be completed in your tax return. This means you need to elect to join it so you need to be aware if you want to have access to it.

Grant Name Description Eligibility
Apprenticeship Training Tax Credit The Apprenticeship Training Tax Credit (ATTC) is a refundable tax credit for corporations and unincorporated businesses employing apprentices in certain skilled trades during the first 48 months of an apprenticeship program.

The credit can reduce income tax by up to $2000.

The tax credit is available to businesses that:

  • [icon type=”double-angle-right” class=”icon-li accent”]have permanent establishments in Ontario
  • [icon type=”double-angle-right” class=”icon-li accent”]are subject to Ontario Income Tax
  • [icon type=”double-angle-right” class=”icon-li accent”]incur eligible expenditures in training apprentices in designated skilled trades
Co-operative Education Tax Credit The Co-operative Education Tax Credit (CETC) is a refundable tax credit.

The credit can reduce income tax by up to $3000.

Ontario businesses that hire students enrolled in an eligible post-secondary co-operative education program.
Skills Link Skills Link provides funding for employers and organizations to offer eligible activities to youth facing barriers to employment.

Government funding can support up to 50% of the minimum wage.

Businesses that have projects that would help with community needs that can help participants gain skills in a variety of different areas.
Career Focus Career Focus provides funding for employers and organizations to create career-related work experiences for post-secondary graduates and supports paid internships for recent post-secondary graduates.

Funding can cover the entire payroll cost.

Businesses are eligible that would focus on a variety of community needs. Participants must be 15-30 and out of school and not already receiving EI.
Canada Summer Jobs Canada Summer Jobs provides funding to help employers create summer job opportunities for students between the ages of 15 and 30.

Fund can cover the entire payroll cost

Small businesses with 50 or fewer full time employees. Eligible participants must be 15-30, be registered as full-time students and intending to return to school
Canada Job Grant This grant is part of the Economic Action Plan which is intended to assist with skills training.

It can provide access to a maximum of $5,000 federal contribution per person towards training at eligible training institutions. With matching from the employer and province, it could provide $15,000 or more per person.

The Grant will require matching from employers as well as provinces and territories. It also requires a plan to train Canadians for an existing job or a better job.

As with anything, eligibility and amounts can vary. There are also a variety of new programs that are being created all the time. We will attempt to keep you abreast of new programs that may apply to you.

If you have questions or want to know how you can apply, then contact your accountant or contact us today. Call us at 416-495-1098 or email us at info@apbs.ca.

The blogs posted on our website provide information of a general nature. These posts should not be considered specific advice; as each reader's personal financial situation is unique and fact specific. Please contact a professional advisor prior to implementing or acting upon any of the information contained in one of the blogs.

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