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Incentives & Tax Credits

The following are government funding programs available to partially offset the cost of hiring co-op students. 

Government of Canada Student Work-Integrated Learning Program (SWILP)

The Government of Canada is rolling out $73-million investment in the SWILP to create 10,000 paid student placement over the next four years (2017 - 2021). Employers can receive wage subsidies of up to 50% of the wage cost for the placement (up to a maximum of $5,000 per placement) and up to 70 percent (up to a maximum of $7,000 per placement) for under-presented students, including first-year students, women in Science, Technology, Engineering and Mathematics (STEM), Indigenous students, persons with disabilities and newcomers. 

SWILP will be distributed by the following five organizations in order to create and deliver work-learning opportunities for students in STEM and business.

Please visit individual organization websites below to explore the eligibility and subsidy guidelines.

Biotalent Canada

Contact 1-866-243-2472

Environmental Careers Organization of Canada (ECO Canada)

Contact info@eco.ca or 1-800-890-1924

Information and Communication Technology Council (ICTC)

Contact info@ictc-ctic.ca or 1-613-237-8551

Information Technology Association of Canada (ITAC)

Contact 1-905-602-8345

Canadian Council for Aerospace and Aviation (CCAA)

Contact Theresa Davis-Woodhouse, 613 727 8272 extension 247, or tdaviswoodhouse@avaerocouncil.ca

 

Ontario Tax Incentives

Ontario Co-op Education Tax Credit

The Co-operative Education Tax Credit is a refundable tax credit. It 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.

Ontario Innovation Tax Credit (OITC)

OITC allows eligible corporations to claim a 10% refundable tax credit, up to $300,000 per year for qualified expenditures on scientific research and experimental development (SR&ED) performed in Ontario. Qualified expenditures include salaries and wages of employees directly engaged in SR&ED.

Ontario Credits, Benefits and Incentives for businesses

Other tax credits offered by Ontario Government to help lower costs, hire/train workers, compete in the marketplace and support various sectors.

 

Ontario Chamber of Commerce Abilities Connect Fund

Valuing Ability Employment

The Valuing Ability Employment stream provides assistance to employers towards the hiring and training of college/university students or recent graduates (within 4 years of graduation) with disabilities. Employers can receive funding for training support (up to eight weeks) and up to four employees or Co-operative Education Program (CO-OP) students under the program. The position must provide meaningful work experience (i.e. perform work functions that are a regular requirement of the organization); personal services are not eligible.  Employees/co-op students self-identify as having a disability. Eligible employment is for a full-time position for a minimum of four months.

Canada Summer Jobs

Canada Summer Jobs is an initiative by the Government of Canada for eligible not-for-profit organizations, public-sector employers and small businesses (50 or fewer employees) who create summer job opportunities for full-time students age 15 to 30 intending to return to their studies in the next school year.

 

Scientific Research and Experimental Development (SR&ED) Program

Through the SR&ED Program, the federal government offers up to 35% investments tax credits for Canadian businesses of all sizes and in all sectors that conduct research and development (R&D) in Canada that will lead to new, improved, or technologically advanced products or processes.

Claimants can apply for SR&ED investment tax credits for expenditures such as wages, materials, machinery, equipment, some overhead, and SR&ED contracts.

 

Yves Landry Foundation - AIME (Achieving Innovation & Manufacturing Excellence) Initiative

In partnership with the Government of Canada, the Yves Landry Foundation provides grant up to $50,000 per company for eligible manufacturing companies to foster training that will lead to advancements and innovation within the manufacturing sector in Ontario.

 

Ryerson Research Funding Opportunities

There is a wide range of external and university funding sources to support Ryerson scholarly, research and creative (SRC) activities. Staff of OVPRI are available to discuss individual SRC interests with faculty members and to provide funding opportunity information. Some opportunities and deadlines are listed below.

Workshops are held throughout the year to provide updates on funding agencies, funding and proposal development, etc. Information is also communicated to faculty members through the various email listservs.

 

Smartstart Seed Fund

Help young entrepreneurs from the ages of 18 to 29, and entrepreneurs from 30+ years across Ontario, launch and build their technology and innovation based start-ups with up to $35,000 in funding.