What is the Apprenticeship Training Tax Credit (ATTC)?
The Apprenticeship Training Tax Credit, (ATTC) is a tax refund that is available to businesses in certain industries that employ apprentices within the first 4 years of an apprenticeship program.
How do I know if I qualify?
Eligibility criteria varies depending on the province in which your business is located, and in which industry your business is. The majority of eligible businesses are in the trades, but there are certain service sectors are eligible as well. There are over 120 trades that are eligible for this tax credit. You can find a list of them here. You can also feel free to contact us to find out if your business is qualifies.
How much are these tax credits worth?
The credit is calculated based on the expenses associated with hiring and training eligible apprentices. For each apprentice, businesses can claim up to $10,000 per year, for a total of 4 years.
Where does CTS & Associates come in?
While we pride ourselves on being knowledgeable in all the tax credit areas in which we specialize, our knowledge in the ATTC is especially a forte. We have been helping businesses claim apprenticeship tax credits since the beginning of the existence of the credit itself, and have filed thousands of successful applications since then. We know exactly which expenses can be claimed, even ones that are often missed by others, so we can make sure that you can get the most out of your claim. On top of that, our vast amount of experience in this area ensures that we are able to get the information we need quickly and efficiently, while also ensuring that your claim is filed in a timely manner.