Apprenticeship job creation tax credit

If you hire apprentices, you may be able to claim a non- refundable tax credit equal to 10% of the eligible salaries and wages paid to eligible apprentices. Eligible wages are those paid during the first 24 months of the apprenticeship. The maximum credit is $2,000 per year for each eligible apprentice. A listing of the trades that qualify can be found at[email protected].

You can claim the credit on your income tax return, using either Form T2038(IND), “Investment Tax Credit (Individuals),” or Form T2SCH31, “Investment Tax Credit—Corporations.”

Unused credits may be carried back three years and forward for up to 20 years to reduce federal taxes otherwise payable in those years.