435B - Marine Engine Technician - is eligible for the following incentives:
$2,000 Apprenticeship Completion Bonus in non Red Seal Trades
A taxable cash grant of $2,000 available to registered apprentices after they successfully complete their apprenticeship training and obtain their Certificate of Apprenticeship and, where available, their Certificate of Qualification in any Ontario non-Red Seal trade, on or after April 1, 2009.
$1,000 Employer Bonus
The initiative will start in April 2010, retroactive to January 1, 2010. Bonus is a taxable $1000 maximum cash grant to Employers per apprentice that has completed their apprenticeship training, receiving a C of A and, where applicable, a C of Q, in their employ
Apprenticeship Training Tax Credit
This has been increased from $5,000 to $10,000 per apprentice per year.
The Apprenticeship Training Tax Credit (ATTC) is a refundable tax credit. It is available to employers who hire and train apprentices in certain skilled trades.
The Canada Revenue Agency (CRA) administers the program on behalf of Ontario through the federal income tax system.
The ATTC is based on salaries and wages paid to an apprentice. The maximum credit for each apprenticeship is $10,000 per year. The maximum credit over the first 48-month period of the apprenticeship is $40,000.
Loan for Tools
There is also an $800 Loan for Tools for 1st year apprentices.
An additional source of funding availability for apprenticeship training can be found at:
We will continue to update our web site with the various incentives and contact information. Please refer to
www.careersinboating.com on a regular basis.