Employers in B.C. now have a new incentive to hire and train Apprentices. The Province has doubled the B.C. Training Tax Credit effective yesterday.

 

"The increase in the training tax credit offers employers additional incentives to hire and train apprentices," said Finance Minister Colin Hansen. "It is a measure that will create new job opportunities and enable more British Columbians to gain the experience they need to qualify for skilled trades jobs, especially in difficult economic times."

 

The training tax credit program started in 2007 to encourage employers to take on apprentices. The program provides refundable income tax credits equal to 10 per cent of salary and wages paid up to $2,000. Employers will now be able to claim up to $4,000 annually per eligible apprentice.

 

"British Columbia is expected to have an estimated 47,000 apprentices registered this year," added Hansen. "With 40 per cent of new jobs over the next two decades predicted to be in trades and technologies, these apprentices and their employers will play a vital role in British Columbia's future.”