Co-op Graduates Hiring Incentive
MN, Canada
Subsidy to hire co-op graduates in Manitoba
grant_single_labels|summary
grant_single|eligibleFinancing
- grant_single|maxCount
- grant_single|projectCostPercent
grant_single|deadlines
- grant_single|openingDateJanuary 01, 2003
grant_single|financingType
Tax Credits
grant_single|eligibleIndustries
- grant_single|allIndustries
grant_single|grantors
- Government of Manitoba
grant_single|status
grant_card_status|open
grant_single_labels|preview
Employers who hire a graduate from a registered co-operative education program into full-time employment can claim 15% of wages and salaries, up to a maximum of $2,500 per year, per graduate for the first two consecutive years of full-time employment.
grant_single_labels|projects
This grant is managed by entities in Manitoba, although no specific eligible geographical areas for applying companies are mentioned beyond the province itself. The funding seems to be aimed primarily at employers within Manitoba.
grant_single|admissibleProjectsExample
$5,000
Hire a graduate to implement a new HR management system in our cooperative
$4,500
Hire a graduate to lead marketing initiatives for our social enterprise
$4,200
Hire a graduate to launch new community outreach programs
$5,000
Hire graduates to enhance our software development team and tackle new projects
$5,000
Hire a graduate to optimize the production process and reduce waste
$5,000
Hire graduates to assist in research for a new sustainable packaging solution
grant_single_labels|admissibility
The eligibility criteria for the Paid Work Experience Tax Credits for the Co-op Students Hiring Incentive and the Co-op Graduates Hiring Incentive are as follows:
- The applicant must be an employer intending to hire students or graduates from registered co-operative education programs.
- The applicant can be a taxable corporation or an exempt corporate entity. Unincorporated employers may also be eligible.
- Crown corporations and other provincial government entities are not eligible for this credit for tax years after 2017.
- Employers can claim up to 15% of wages and salaries, with a maximum of $5,000 per student for both incentives.
grant_eligibility_criteria|who_can_apply
Eligible employers for the Paid Work Experience Tax Credits, including the Co-op Students Hiring Incentive (COS-HI) and the Co-op Graduates Hiring Incentive (COG-HI), are taxable corporations or exempt corporate entities hiring students or graduates from registered co-operative education programs in Manitoba. Unincorporated employers may also claim the refundable credit on their individual income tax returns. However, for tax years starting in 2017, Crown corporations and other provincial government entities are not eligible.
grant_eligibility_criteria|who_cannot_apply
This grant cannot be accessed by certain types of corporations and government entities due to their exempt status. These restrictions ensure that the benefits are allocated to qualifying private sector employers.
- Crown corporations and other provincial government entities are not eligible for this credit.
grant_eligibility_criteria|eligible_expenses
The Paid Work Experience Tax Credits in Manitoba aim to create work experience opportunities for students and graduates through co-operative education programs. These initiatives support the hiring of co-op students and graduates by providing financial incentives to employers.
- Hiring co-op students through a registered co-operative education program, allowing employers to claim tax credits on a percentage of wages and salaries.
- Employing graduates from registered co-operative education programs in full-time positions related to their field of study, with similar tax credit eligibility as hiring students.
grant_eligibility_criteria|zone
The grant covers a portion of wages and salaries for eligible employment positions.
- 15% of wages and salaries for students hired as part of a registered co-operative education program, up to a maximum of $5,000 per student.
- 15% of wages and salaries for graduates hired for full-time employment related to their field of study as part of a registered co-operative education program, up to a lifetime maximum of $5,000 per graduate.
grant_single_labels|criteria
The evaluation and selection criteria for the Co-op Students Hiring Incentive and Co-op Graduates Hiring Incentive in Manitoba include:
- Employers must hire students or graduates from registered co-operative education programs
- Employers can claim 15% of wages and salaries, up to a maximum of $5,000 per student
- Eligible employers include taxable corporations or exempt corporate entities
- Crown corporations and other provincial government entities are not eligible for this credit
grant_single_labels|register
Here are the steps to apply for the Co-op Hiring Incentives in Manitoba:
- Step 1: Determine Eligibility
- Ensure your business is a taxable corporation or an exempt corporate entity (note that Crown corporations and other provincial government entities are not eligible).
- Verify participation in an approved co-operative education program listed in the Manitoba Co-operative Education Program Registry.
- Step 2: Hire Co-op Student/Graduate
- Hire a student or graduate from a registered co-operative education program in Manitoba.
- Ensure the hiring aligns with the structured work experience requirements.
- Step 3: Prepare Documentation
- Gather all necessary payroll records and documentation to prove employment and wage payments.
- Complete the Co-op Program Approval Application Form.
- Step 4: File Tax Credit Claim
- Complete the necessary sections on your corporate income tax return to claim the credit.
- For unincorporated employers, use the individual income tax return to claim the refundable credit.
- Keep a copy of all records and forms submitted for your own files.
- Step 5: Contact for Assistance
- If you require further information or assistance with the application process, contact the Manitoba Tax Assistance Office.
- Utilize the contact details provided to ensure all forms are correctly filled and submitted.
grant_single_labels|otherInfo
Here are additional relevant details for this grant:
- Both COS-HI and COG-HI are fully refundable credits.
- Unincorporated employers can claim the refundable credit on the individual income tax return.
grant_single_labels|contact
tao@gov.mb.ca
204-945-1833
Apply to this program
Enhance Your Workforce with Co-Op Hiring Incentives
These tax credits are designed to motivate employers in Manitoba to provide crucial work experience to students and graduates from registered co-operative education programs. By offering financial incentives, the program aims to connect theoretical education with practical workplace skills, enhancing the province's workforce development.
Detailed Exploration of Co-Op Hiring Incentives
Manitoba's Co-op Hiring Incentives—comprising the Co-op Students Hiring Incentive (COS-HI) and the Co-op Graduates Hiring Incentive (COG-HI)—are pivotal programs facilitating the seamless transition of students and graduates from educational environments into the workforce. These incentives not only support educational institutions and students, but they primarily benefit employers, contributing to a well-rounded, skilled workforce.
Introduced in 2003, the COS-HI focuses on providing significant work-based learning experiences for students currently enrolled in registered co-operative education programs. This initiative is designed to support employers who wish to integrate students into their operations, thereby enriching their workplace with fresh perspectives and new ideas. Employers who engage students under this incentive can receive a refundable tax credit amounting to 15% of the wages and salaries paid, up to a maximum of $5,000 per student for tax years extending beyond 2015. This strategic move seeks to encourage more employers to offer substantial, paid work experiences, ensuring students gain the requisite skills and confidence needed in their respective fields.
Likewise, the COG-HI, first available in 2006, extends this model to graduates, further strengthening the job market. By preparing graduates for full-time, field-related employment, this incentive assists in bridging the gap between academic achievements and career aspirations. Eligible employers are entitled to the same financial benefits as those hiring under the COS-HI, with the caveat that the maximum benefit per student is a cumulative lifetime limit of $5,000. This ensures continual support for graduates as they step into the labour market as competent professionals.
Both these incentives are tailored to be fully refundable, thereby appealing to a wide range of employers, including taxable corporations and exempt corporate entities. However, a rule change for the tax year 2017 onward means that Crown corporations and other provincial government entities are excluded from these benefits. On the other hand, unincorporated employers are afforded the opportunity to claim this refundable credit on their personal income tax returns, thereby extending its reach to an even broader audience.
The administration and success of this program are critically dependent on the collaboration of multiple stakeholders, including educational institutions, government bodies, and employers. At the core of the Co-op Hiring Incentives is a shared commitment to developing a dynamic workforce, equipped with both executive capabilities and technical prowess. This collective goal not only contributes to immediate economic objectives but also secures a long-term strategic advantage for the province by cultivating a pipeline of talent ready to tackle future challenges.
For students and graduates, these incentives provide more than just a financial foothold; they open avenues for career exploration, skill development, and professional growth. Engaging in substantial work experiences enables individuals to apply their theoretical knowledge practically, enhancing both personal and professional development.
Overall, the Paid Work Experience Tax Credits play a critical role in advancing Manitoba’s educational and economic landscape. By incentivizing the hiring of students and graduates, the program fosters an environment where young professionals can thrive, contributing positively to the economic fabric of the province. These incentives exemplify Manitoba’s commitment to investing in education and training as fundamental pillars for economic growth and competitiveness. Whether you are an employer seeking to bolster your team's capabilities or a student aspiring to gain practical experience, the program provides invaluable support and opportunities for all involved parties.
