Pierre Poilievre, Minister of Employment and Social Development, outlined Canada’s low-tax plan for families, as well as skills training to prepare Canadians for in-demand jobs during his address to the Edmonton Economic Development Corporation.
Poilievre noted Canada’s strong economic record since the 2009 global recession with nearly 1.2 million jobs created and how the federal government continues to help businesses and workers in Alberta. He also highlighted the plan to help build on this success by ensuring Canadians keep more of their hard-earned money in their pockets.
Poilievre outlined several recent initiatives that both employers and workers can benefit from, such as the Canada Job Grant and the Canada Apprentice Loan.
Measures introduced to help families prosper include lowering taxes, enhancements to the Universal Child Care Benefit, the introduction of the Family Tax Cut, and improvements to the Child Care Expenses Deduction and the Children’s Fitness Tax Credit.
A few quick facts:
The Universal Child Care Benefit would increase to as much to $1,920 per year for children under the age of six, and parents may receive a benefit of up to $720 per year for each eligible child aged six through 17.
Since 2006, the government has provided nearly $700 million through apprenticeship grants to over 530,000 Canadians across the country.
The Canada Job Grant will provide up to $15,000 per person for the direct costs of training, such as tuition and training materials, which includes up to $10,000 in government contributions.
The Canada Apprentice Loan provides apprentices registered in a Red Seal trade apprenticeship with access to interest-free loans of up to $4,000 per period of technical training.
The loans are interest-free until apprentices complete or leave their apprenticeship training program, up to a maximum of six years.
At least 26,000 apprentices are expected to benefit from over $100 million in interest-free loans each year.
Since its launch on January 2 this year, over 3,000 apprentices across Canada, including over 1,200 in Alberta, have already received their loans.
“The government is continuing to put in place measures that support employers and workers in Alberta, including investments in training and skills for the jobs of today,” said Poilievre.
“We’re also keeping taxes low and increasing benefits to keep more hard-earned money in the pockets of Canadians.”
Programs for Apprentices. Recognizing the importance of apprentices to Canada’s economy, the government has made significant investments to help them and the employers that hire them.
The Apprenticeship Incentive Grant and Apprenticeship Completion Grant are taxable cash grants that encourage Canadians to pursue and complete apprenticeship training in designated Red Seal trades.
Apprentices could be eligible to receive up to $4,000.
Other measures include:
• A tax credit to employers to encourage them to hire apprentices and a tax deduction for apprentices and tradesmen to help cover the cost of new tools.
• The Flexibility and Innovation in Apprenticeship Technical Training pilot project to help apprentices continue working and earning while fulfilling the technical training requirements of their study program
Posted: Apr 28, 2015
– With information from Employment and Social Development Canada