Apprenticeship Training Tax Credit (ATTC)
Description: A refundable tax credit for corporations and unincorporated businesses employing apprentices in certain skilled trades during the first 48 months of an apprenticeship program.
Funding Details: In a taxation year, for each qualifying apprenticeship, an eligible employer may claim a refundable tax credit for eligible expenditures for the apprenticeship of 35% (45% for small businesses) to a maximum of $10,000. The tax credit will first reduce Ontario tax payable for the taxation year and any excess will be refunded. The full amount of the credit is considered to be taxable government assistance and is included in income.
Eligible Expenditures: Eligible expenditures are:
- Salaries and wages (including taxable benefits) paid to an apprentice in a qualifying apprenticeship; or
- Fees paid to an employment agency for the provision of services performed by an apprentice in a qualifying apprenticeship.
Eligibility Requirements: Corporation is eligible for the ATTC if it:
- Has permanent establishments in Ontario
- Is subject to Ontario Income Tax
- Incurs eligible expenditures in training apprentices in designated skilled trades
How NorthBridge Will Assist With ATTC and Other Funding Programs
NorthBridge has over 20 years of experience assisting companies with government funding programs. We will:
- Listen and discuss past, present and future project activities.
- Research and identify the appropriate and optimal government grant, tax incentive, loans, as well as private financing opportunities.
- Take a hands-on approach to the application process and address relevant program objectives and criteria.
- Become an in-house project manager for all types of government funding.
- Interview the key employees and ask specific questions in order to make the right funding decisions.
- Assist in writing the application and preparing all supporting documentation.
- Assist with government reporting requirements.
To arrange for a free, no obligation consultation with one of our government funding experts contact us at: firstname.lastname@example.org