How much funding can be received?

Funds up to 20% of admissible expenses, capped at $7875 per project.

What is the deadline to apply?

The deadline to apply is not specified.

Who are the financial supporters of the British Columbia shipbuilding and ship repair industry tax credit?

British Columbia shipbuilding and ship repair industry tax credit is funded by BC Ministry of Finance, Government of British Columbia

British Columbia shipbuilding and ship repair industry tax credit

Q: What are British Columbia shipbuilding and ship repair industry tax credit's eligibility criterias?

Must be an eligible employer in the British Columbia shipbuilding and ship repair industry Must pay salary and wages to employees registered in programs administered through SkilledTradesBC before January 1, 2025 Cannot claim this credit if also claiming the British Columbia training tax credit in the same tax year

Last Update: April 27, 2025

BC, Canada

Supports tax credits for shipbuilding industry apprenticeship employers in BC

British Columbia shipbuilding and ship repair industry tax credit at a glance

Eligible Funding

Max. $7,875
Up to 20% of project cost

Timeline

Continuous Intakes

Financing Type

Tax Credits

Eligible Industries

Manufacturing
Transportation and warehousing

Grant Providers

BC Ministry of Finance
Government of British Columbia

Status

Open

Overview of the British Columbia shipbuilding and ship repair industry tax credit program

The British Columbia shipbuilding and ship repair industry tax credit offers eligible employers a refundable tax credit of up to $7,875 per qualified employee to support salary and wage costs for apprentices registered in prescribed SkilledTradesBC programs. The program aims to incentivize employee training and skills development within the shipbuilding and repair sector.

Financing terms and conditions

Basic and completion tax credits: 20% of eligible employee salary and wages (net of designated assistance), up to a maximum of $5,250 per employee per tax year.
Enhanced tax credit: 30% of eligible employee salary and wages (net of designated assistance), up to a maximum of $7,875 per employee per tax year.
Both credits may be applied for the same employee in overlapping periods when more than one program level is completed during the tax year.

Eligible projects & activities

Employment and training of apprentices in the British Columbia shipbuilding and ship repair industry through prescribed programs administered by SkilledTradesBC.
Completion of advanced levels of apprenticeship programs by employees in the shipbuilding and ship repair sector.
Support for apprentices who are individuals registered under the Indian Act or who qualify for the disability amount in pursuing all levels of eligible apprenticeship training programs.

Eligibility criteria of the British Columbia shipbuilding and ship repair industry tax credit program

The applicant must be an eligible employer operating in the British Columbia shipbuilding and ship repair industry.
The company must have paid salary and wages to an employee registered in a prescribed program administered through SkilledTradesBC before January 1, 2025.
The employee must be participating in a Red Seal or non-Red Seal apprenticeship program.
The credit may be claimed for corporations and partnerships, with specific rules for each.

Who is eligible?

Employers in the British Columbia shipbuilding industry
Employers in the British Columbia ship repair industry
Corporations that are members of a partnership in the shipbuilding or ship repair industry

Who is not eligible

Companies that claim the British Columbia training tax credit in the same tax year.

Eligible expenses

Salary and wages paid to employees registered in a prescribed program administered through SkilledTradesBC, including those in Red Seal and non-Red Seal programs.

Eligible geographic areas

British Columbia

How to apply to the British Columbia shipbuilding and ship repair industry tax credit program

Step 1: Calculate Eligible Tax CreditsDetermine if the salary and wages paid to eligible employees before January 1, 2025, qualify under the tax credit criteria.
Calculate the basic, completion, or enhanced tax credit amounts per eligible employee according to the credit rates and applicable maximums.
Step 2: Complete Required SchedulesFill out Schedule 430, British Columbia Shipbuilding and Ship Repair Industry Tax Credit.
Enter the total amount of credits you are claiming on line 681 of Schedule 5, Tax Calculation Supplementary – Corporations.
Step 3: File With Corporation Tax ReturnInclude the completed Schedule 430 and Schedule 5 with your corporate income tax return for the applicable tax year.
Ensure submission is made no later than 36 months after the end of the tax year in which eligible salaries and wages were paid.
Step 4: Recordkeeping and ComplianceMaintain supporting documentation and records related to the claimed credits in case of review.
Consult Part 9 and Section 126.5 of the British Columbia Income Tax Act for further compliance details if required.

Additional information

The credit applies to both Red Seal and non-Red Seal apprenticeship programs administered through SkilledTradesBC.
Employers must file Schedule 430 with their corporate tax return to claim the credit.
Credits must be claimed within 36 months following the tax year in which the eligible salaries and wages were paid.
Special rules exist for non-arm's length employers intending to claim the credit for the same employee, as outlined in section 126.5 of the British Columbia Income Tax Act.