Both the Federal and Provincial governments are projecting a substantial shortage of skilled trade’s workers. In order to help fill the gap and encourage growth in the sector, they offer a mix of grants and deductions available to both apprentices and employers. As an apprentice, you can take advantage of these grants to help you progress through your apprenticeship. The credits available to employers help offset training costs and encourage them to hire you.
The Tradesperson’s Tools Deduction provides employed tradespersons with an annual deduction of up to $500.00 to help cover the cost of new tools necessary for their trade. The deduction applies to the total cost of eligible tools if:
• The total cost exceeds $1,000.00 • The tools were purchased after May 1, 2006 • The purchase was made by an employed tradesperson