Included in the Government of Canada’s newly released 2019 federal budget is the new Canada Training Benefit program. As details in the budget, “The Canada Training Benefit would give workers money to help pay for training, provide income support during training, and offer job protection so that workers can take the time they need to keep their skills relevant and in-demand”. This is a clear recognition of the importance and impact of training on the Canadian economy and to people’s professional development.
Starting in 2020, the non-taxable Canada Training Credit allows Canadian workers between the ages of 25 and 64 who make between $10,000 and $150,000 to claim a $250 per year tax credit (up to a lifetime limit of $5,000). When you file your income tax return, you can claim up to half of the fees for your training.
Whether you need to update your skills and build capacity for your existing job or to get a new job, this benefit was put in place for you. This credit can be applied to CIET’s energy and GHG training programs – both certification programs as well as awareness and capacity building courses.
Beyond the training tax credit itself, the Canada Training Benefit protects workers by providing up to four weeks of income support during their training if they are not receiving their full pay during that time. (Note: this benefit is expected to launch in 2020).
In order to encourage Canadians to pursue training opportunities, the Canada Training Benefit also protects your ability to take time away from work to further develop your skills.
For more information on the Canada Training benefit and how to use it, visit BUDGET 2019.
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