Apprenticeship Tax Credits
One of the key challenges facing employers today is the shortage of skilled tradespeople, driven in part by an aging workforce. As industries struggle to fill critical positions, governments have recognized the need to address these shortages through targeted training and knowledge transfer initiatives. These efforts are essential to ensuring the continued growth and success of Canadian companies across various sectors.
Government tax incentive programs
In response to these skill shortages provincial and federal governments have introduced both refundable and non-refundable tax incentive programs for employers who hire and train apprentices in certain skilled trades. These programs and their tax credit offerings, which vary by province and are frequently modified, are financially supportive to thousands of employers across many industries and services throughout Canada.
Apprenticeship Training Tax Credit Management System
Operating an effective apprenticeship program and capturing all of the available tax incentive opportunities is a great challenge for employers with limited time, personnel and budget - who are busy driving their businesses forward.
TMS offers the Apprenticeship Training Tax Credit Management System (ATTCMS) to reduce your managerial burden and cut the cost of operating an effective apprenticeship tax recovery program.
ATTCMS has been a success with our clients as it enables them to focus on their core duties while ATTCMS focuses on delivering financial savings and time savings – results that our clients demand.
How does it work?
ATTCMS is designed to work non-intrusively to reduce the burden of managing the various apprenticeship tax recovery programs due to documentation sourcing, claims preparation and audit support.
The ATTCMS Process
Supporting Documents and Sourcing
Our experience with government agencies, apprenticeship committees, councils and unions allows the quick-sourcing of vital documents necessary for supporting claims, satisfying CRA audit requests, and achieving tax credit approvals.
Claim Preparation
With our client’s collaboration we gather the payroll data needed to carefully prepare claims for the available apprenticeship tax credit programs. All claims are complete with back-up data. Retroactive tax credit eligibility often applies.
Audit Support
On behalf of our clients, claims are submitted and audited for approval by Canada Revenue Agency. At TMS we support our clients during the audit process through to completion.
Continued Support
TMS will conduct seminars and workshops at your facility for the appropriate departments and personnel in your organization. In addition, TMS provides email support services, where your questions submitted are attended to immediately.