Financial Incentives and Benefits
Co-operative Education Tax Credit (CETC)
If you are an employer in Ontario and would like to provide valuable work experience you may qualify for a significant tax break – from 25 to 30 per cent of eligible expenses up to a maximum of $3,000 for each four-month work term a student completes.
- Conestoga’s co-operative education programs qualify for the Government of Ontario’s Co-operative Education Tax Credit.
- The CETC is a refundable tax credit for employers equal to 25 per cent (30 per cent for businesses with payrolls less than $400,000) of the salaries and wages paid to eligible post-secondary students in a qualifying co-op work term of at least 10 consecutive weeks. A maximum tax credit of $3,000 is available per student per four-month qualifying work term.
- Letters confirming eligible co-op student employment are available online at the end of each co-op term (September, May or January) through the employer’s MyCareer account.
For additional details about the CETC, please see the Co-operative Education Tax Credit (pdf).
Student Work Placement Program (SWPP) Government Funding
In November 2017, the Government of Canada announced a $73-million investment in the Student Work-Integrated Learning Program (SWILP) to create 11,500 paid student work placements through 2021. The program is now called the Student Work Placement Program (SWPP).
Employers can receive wage subsidies of up to 50 per cent of the wage cost for the placement (up to a maximum of $5,000 per placement) up to 70 per cent (up to a maximum of $7,000 per placement) for under-represented students including first-year students, women in STEM, Indigenous students, persons with disabilities and newcomers.
For more information, visit the Government of Canada's web page: Find wage subsidies to hire students in STEM or business.
CSTEC Manufacturing Experiential Learning
Canadian Skills Training and Employment Coalition (CSTEC) is offering wage subsidies (up to $2,500) to companies hiring students with an experiential learning opportunity.
The opportunity provided to the individual must meet the following criteria to be eligible for funding:
- The student is in a workplace or simulated workplace
- The student is exposed to authentic demands that improve their employability, interpersonal skills, and transition to the workforce
- The experience is structured with purposeful and meaningful activities
- The student applies college or university program knowledge and/ or essential employability skills
- The experience includes student self-assessment and evaluation of the student’s performance and learning outcomes by the employer and/or university/college
- The experience counts towards course credit or credential completion OR is formally recognized by the college or university as meeting the five criteria above
- All opportunities must comply with all applicable laws and regulations including health and safety.
The deadline to apply for winter 2019 is January 31.
If you are interested in participating in this program, or if you have questions contact: Darin Tucci, Regional Coordinator CSTEC: firstname.lastname@example.org
Apprentice & Journeyperson Incentives
A complete list of incentives for Apprentices and Journeypersons can be found on the School of Trades & Apprenticeship website.
Employment Ontario Employment Services Placements
Training incentives may be available for eligible employers committed to providing work-related training and development that prepares individuals to perform the full responsibilities of the job. Training incentives are designed to offset some of the employers' cost of training and encourage employers to retain the participant after the placement ends.
For more information, contact the Conestoga Career Centre.
Additional Government Programs
For provincial incentive programs in Ontario, see the Government of Ontario website.
Learn about the funding opportunities (grants and contributions) offered by Employment and Social Development Canada (ESDC), the Labour Program and Service Canada by browsing the Government of Canada ESDC website.
For a full list of Federal Government Employment Resources for employers hiring young workers visit the Government of Canada Services for Youth website.
Benefits of Hiring Co-op Students
Conestoga Co-op students
- are cost-effective, temporary employees for peak periods of activity, seasonal variations in workload or short-term projects,
- give you the opportunity to explore new employment positions without extensive investment or long-range commitment,
- raise your organization’s profile with students and graduates as an employer of choice,
- add bright, motivated, fresh talent to your organization,
- allow you to evaluate candidates before consideration for permanent employment; the work/study approach to education assists employers in recruiting mature, experienced graduates,
- allow you to familiarize prospective full-time employees with your organization, decreasing orientation and training when hiring graduates,
- give your rising stars a chance to supervise and develop their people management skills, and
- contribute to the enhanced education and training of Ontario’s future skilled workers.