Tap Into Education Funding for Tax Season Training    

Now is the time train new and returning employees for the upcoming tax season...did you know your training costs qualify for grants and funding? That includes those incurred through a Knowledge Bureau education.There are both granting and funding options available when you need to train staff in a hurry based on where you live.  Here are the details.

First, there is the newly introduced  Canada Job Grant is a collaborative program between the federal and provincial governments designed to assist employers and employees in developing skills for success.  If you are an employer, this is potentially a good option to consider for staff training.  The program is available in most provinces.  It can provide grants of up to $15,000 annually to cover up to two-thirds of training.  Any grants received must be included in income by the employer receiving the grant.  However, this income will be offset by the deduction for the expense of the training.

As of the date of this article, Manitoba, New Brunswick, Nova Scotia, PEI and Quebec are not actively accepting registrants in this program but have alternate programs available.  Each province does have its own criteria for applying for the program. The following links provide details of the program for each participating province. Check out the Funding page on our website for the most current updates to this list.

Canada-Alberta Job Grant:

https://www.alberta.ca/canada-alberta-job-grant.aspx

Canada-British Columbia Job Grant:

https://www.workbc.ca/Employer-Resources/BC-Employer-Training-Grant.aspx

Canada-Newfoundland and Labrador Job Grant:

https://www.gov.nl.ca/ipgs/employ-support/foremployers/canada-nl-job-grant/

Canada-Northwest Territories Job Grant:

https://www.ece.gov.nt.ca/sites/ece/files/resources/canada-northwest_territories_job_grant_brochure.pdf

https://www.ece.gov.nt.ca/en/resources

Canada-Nunavut Job Grant:

https://www.gov.nu.ca/family-services/programs-services/canada-nunavut-job-grant-cnjg

Canada-Ontario Job Grant:

http://www.tcu.gov.on.ca/eng/eopg/cojg/index.html

Canada-Saskatchewan Job Grant:

https://www.saskatchewan.ca/business/hire-train-and-manage-employees/apply-for-the-canada-saskatchewan-job-grant

Canada-Yukon Job Grant:

https://yukon.ca/en/doing-business/funding-and-support-business/get-funding-your-organization-support-workers-and-0

Nova Scotia Programs:

https://novascotia.ca/programs/

https://novascotia.ca/programs/workplace-innovation-productivity-skills-incentive/

Prince Edward Island Programs:

https://www.princeedwardisland.ca/en/service/workplace-skills-training

https://www.princeedwardisland.ca/en/topic/skills-development-and-training

Manitoba Programs:

https://www.gov.mb.ca/jec/busdev/financial/index.html

New Brunswick Programs:

https://www2.gnb.ca/content/gnb/en/departments/post-secondary_education_training_and_labour/Jobs/content/EmployerWorkforceDevelopment.html

Quebec Programs:

https://www.quebec.ca/en/businesses-and-self-employed-workers

Bottom Line:  according to the most recent Statistics Canada Education indicators, 54% of Canadian adults aged 25-64 have post-secondary education; the highest rate within the member countries of the Organization for Economic Co-operations and Development (OECD).  At the same time, we are faced with the challenge of increasing average costs in order to attain that education, at a time when retraining for constant change in our tax and economic environments is critical.  Now, with government support, rehiring and training can add not only to your bottom line but also to your peace of mind.

Additional educational resources: Don’t miss this opportunity to take Canada’s most up-to-date and comprehensive Advanced T1 Tax Update Course for Professional Tax Accounting firms and their new and returning staff who will file 2021 T1 Returns. This is Canada’s #1 tax training program for busy practice owners who need to recruit and train staff in time for this tax season.