Government is extending the B.C. Training Tax Credit program for an additional three years to the end of 2017, providing refundable income tax credits for B.C. apprentices and their employers.
Eligible apprentices enrolled in programs administered through the Industry Training Authority may qualify for up to $6,500 in tax credits over a four-year apprenticeship program. Employers may qualify for up to $13,500 in tax credits as their apprentice progresses.
“British Columbia’s job market creates a strong demand for skilled workers,” said Premier Christy Clark.
“Extending these credits will provide long-lasting benefits for employers and skilled trades workers and help fuel the skilled workforce we need to keep B.C.’s economy moving.”
To encourage First Nations participation in trades, individual and employer tax credits are enhanced by 50 per cent. Persons with disabilities and their employers are also eligible for enhanced tax credits under this program.
“There’s no question, apprentices and skilled workers are in high demand,” said Shirley Bond, jobs minister.
“The B.C. Training Tax Credit offers support to businesses and industries that invest in apprentices, so we have the right skilled workers in the right place at the right time to meet future labour demands of our growing economy. The more companies that get involved, the better prepared we will be. Through B.C.’s Skills for Jobs Blueprint, the government is delivering on a number of priority action items including hiring an additional 10 apprenticeship advisors to work with students and employer sponsors, and by forming sector advisory groups to build stronger partnerships with industry and labour.”
The training tax credit program is designed to attract people to apprenticeship programs in B.C. to gain the experience they need to qualify for skilled trades jobs. The program also provides employers with an incentive to hire and train apprentices so they can get the work experience they need to find the job they want to support themselves and their families.
“Since the program began in 2007, thousands of apprentices have enrolled and gone on to secure stable, well-paying jobs throughout B.C.,” said Michael de Jong, finance minister.
“These are the skilled tradespeople who are building our homes, our infrastructure and eventually supporting B.C.’s LNG industry.
“Extending the training tax credit will support new apprentices going into trades programs today, to meet the demands of tomorrow.”
Since the program began, about 40,000 apprentices have claimed tax credits.
A training tax credit for eligible employers in the B.C. shipbuilding and ship repair industry is also available.
For more information, visit the B.C. Industry Training Authority website at www.itabc.ca