APPRENTICESHIP JOB CREATION TAX CREDIT
The Apprenticeship Job Creation Tax Credit is a non-refundable tax credit available to employers, equal to 10% of the eligible salaries and wages payable to eligible apprentices in respect of employment after May 1, 2006. The maximum credit is $2,000 per year for each eligible apprentice. More information.
Tradesperson’s Tools Deduction
If you reimburse or provide an allowance to your employees to offset the cost of tools that they need for their job or you pay for their tools, the amount of the payment is a taxable benefit and should be included in the employees' income.
When employed tradespersons (including apprentice mechanics) file their income tax and benefit return, they may be able to deduct part of the cost of eligible tools they bought to earn employment income as a tradesperson. More information.
Other Support Programs
Tax season is quickly approaching!
2024 tax slips will be available in MyATC by the end of February. Tax slips will not be sent out via mail. To access tax slips in MyATC, log in to your MyATC account, select “My Items” in the top menu bar and select “Tax Slips” from the list.
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If you become unemployed during your apprenticeship, you have one year to find a new employer and reinstate without paying fees.
You have 1 year to find a new employer and reinstate without fees. After that, reapplication is required. Ready to reinstate? Log into MyATC & follow the steps under “Reinstate my apprenticeship.” Learn more: bit.ly/3DFgXfQ
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saskatchewan youth apprenticeship (sya)
The Saskatchewan Youth Apprenticeship (SYA) program gives high school students the opportunity to learn more about skilled trades career pathways and gain a head start on their skilled trades career, should they register as an apprentice after graduation.
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