Whether you’re an employer looking to hire an apprentice or you’re an apprentice looking to advance your career, there are many ways to take advantage of apprenticeship grants to help you achieve your goals. These grants include the Graduated Apprenticeship Grant, the Registered Apprenticeship Grant, and the Apprenticeship Incentive Grant for Women.
Graduated Apprenticeship Grant for Employers
Previously known as the Apprenticeship Training Tax Credit, the Graduated Apprenticeship Grant for Employers (GAGE) is a government funding program that has been designed to help more employers get access to funding. During the apprenticeship training process, employers will receive payments for each level that their apprentice completes. During the first year of training, employers will receive half of the apprentice’s salary. The grant increases as the apprentice moves through training.
This program provides up to $16,700 in funding for training and up to $19,200 per apprentice. In addition, the Ontario government has created an incentive for hiring apprentices from underrepresented groups. In particular, apprentices from women, Francophones, people with disabilities, and newcomers are eligible for additional $500 in funding for each level of training.
There are other funding programs available to help you train an apprentice. For instance, the SUNY offers a Registered Apprentice tax credit to cover fees and expenses related to apprenticeship training.
Registered Apprenticeship Grant
Having a Registered Apprenticeship Grant for Employers can be a significant advantage in attracting more applicants and keeping employees. These programs provide structured on-the-job learning, related instruction, and a credential. Applicants can learn a trade and earn a high-paying wage at the same time. The system has been used to meet the needs of the skilled workforce for over seventy years.
The registered apprenticeship system keeps pace with new technologies and human resource development. Apprentices earn a nationally recognized credential. As they become more skilled on the job, they receive incremental wage increases. This ensures that the apprenticeship model offers a pathway to the middle class.
Apprenticeship programs are designed to help people gain skills to enter into high-skilled, high-demand occupations. They also improve retention rates of employees and reduce absenteeism. They can also be tailored to specific groups.
The Office of Apprenticeship (OA) administers two grant programs. The Pre-Apprentice and Apprenticeship Grant Program and the Apprenticeship Expansion Grant Program provide financial support to Registered Apprenticeship programs.
Apprenticeship Completion Grant
Several financial incentives are available to employers who are recruiting and training apprentices. If you have an apprentice, check with your local Employment Ontario office for information about the many programs available.
The Apprenticeship Job Creation Tax Credit is available to employers who hire new apprentices in certain eligible trades. This tax credit is equal to 10% of wages paid to the apprentice for the first year of their apprenticeship. The maximum credit is $2,000 per year per apprentice.
The Ontario Youth Apprenticeship Program is a collaboration between the government and high school students to help them gain the skills they need to get a foot in the door. The program also works with local businesses to find and train apprentices.
The Apprenticeship Completion Award Program is a partial reimbursement program for eligible sponsors. The program will award eligible apprentices with a registration payment, a milestone payment, and partial reimbursement for in-class training costs. The program also has a commuting allowance, as well as supplementary allowances for living away from home and travel expenses.
Apprenticeship Incentive Grant for Women
Among the initiatives announced in the Budget 2018 is the Apprenticeship Incentive Grant for Women (AIG-W). This pilot program will support women in Red Seal trades and provide them with better economic outcomes.
The grant is worth $3,000 per level of training. Apprentices are able to receive the grant twice in a lifetime. However, applicants must complete the first year of their apprenticeship program before they can apply for a second year.
The grant is available to women who are registered in an approved apprenticeship program. Eligible apprentices must have not graduated from high school or have not attended a postsecondary program in the last two years. The program will pay for the cost of training, including tuition, living expenses, and travel.
In addition to apprenticeship grant for employers that you can claim, women can also receive refundable tax credits. The credit can be claimed each year if the apprentice passes certification exams. The credit is equal to 10% of the apprentice’s wages. The credit can also be claimed for property used in the apprenticeship program.