Improved tax credits for hiring apprentices and journeypeople, and a new employer hiring bonus, will make it easier for employers to hire apprentices and deliver on-the-job training, according to Manitoba Premier Greg Selinger.
"We're creating a new $1,000 bonus for businesses that hire apprentices for the first time and improving apprenticeship tax credits to increase the incentive to hire," he said. "This will encourage businesses to train more Manitobans for well-paying jobs in the skilled trades."
Under the plan, Apprenticeship Tax Credits will be made permanent and improved to a standardized rate of 15 per cent and a standardized maximum of $5,000 per hire for all levels of apprentices and newly certified journeypeople.
The application process will also be streamlined, reducing red tape by eliminating the need for pre-approval and separate claims for each level of apprenticeship completed. The rural/northern tax credit for level one and two apprentices will be improved by increasing the cap to $5,000 and continuing the higher rate at 20 per cent of wages and salaries.
The new $1,000 first-time bonus will be available as of April 1st. The tax credit changes will be implemented for tax years ending after Dec. 31.
© Copyright Canadian HR Reporter, Thomson Reuters Canada Limited. All rights reserved.
To Read the Full Story, Subscribe or Sign In