Tax Credit
Co-operative Education Tax Credit
The Co-operative Education Tax Credit (CETC) is a refundable tax credit. The CETC is available to employers who hire students enrolled in a co-operative education program at an Ontario university or college.
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Description
The Co-operative Education Tax Credit (CETC) is a refundable tax credit. The CETC is available to employers who hire students enrolled in a co-operative education program at an Ontario university or college.The tax credit is based on salaries and wages paid to a student in a co-operative education work placement. Corporations can claim 25 per cent of eligible expenditures (30 per cent for small businesses). The maximum credit for each work placement is $3,000. Most work placements are for a minimum employment period of 10 weeks up to a maximum of four months.