Canadian Government: Grants, Loans, Taxes

Grants, Loans, Tax Benefits

  • Apprentice Loan

    • The Canada Apprentice Loan is an initiative of the Government of Canada to help complete your apprenticeship in a designated Red Seal trade. You can apply for up to $4,000 in interest-free loans per period of technical training. The money will be available to you to help with tuition, tools, equipment and living expenses, to cover forgone wages and to help support your family.
  • Apprenticeship Incentive Grant

    • The Apprenticeship Incentive Grant (AIG) Is a taxable cash grant of $1,000 per year, up to a maximum of $2,000. This Grant helps registered apprentices in designated Red Seal trades get started.
  • Apprenticeship Completion Grant

    • The Apprenticeship Completion Grant (ACG) is a taxable cash grant of $2,000. This Grant helps registered apprentices who have completed their training to become certified journeypersons in designated Red Seal trades.
  • Trade Employer Tax Credit for Apprentices

    • The Apprenticeship Job Creation Tax Credit (AJCTC) is a non-refundable tax credit for an employer that is equal to 10% of the eligible salaries and wages payable to eligible apprentices in respect of employment after May 1, 2006. The maximum credit an employer can claim is $2,000 per year for each eligible apprentice.
  • Tools Tax Credit for Tradespeople

    • Canada Revenue offers a tax benefit in the form of the Tradespersons’ Tools Deduction  Apprentices may be able to deduct the cost of eligible tools bought to earn employment income as a tradesperson.
  • Youth Services and Information

 

 

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