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Note: As of April 1, 2014, the Nunavut Business Training Tax Credit (individuals) is obsolete and no longer in effect.
The Nunavut Business Training Tax Credit is a refundable tax credit claimable for expenses incurred to provide business training to your eligible employee(s). The tax credit is equal to 30% of your business training expenses for each eligible employee, plus another 20% if the eligible employee is a beneficiary under the Nunavut Land Claims Agreement (NLCA). Click this link for more information on who qualifies as a beneficiary under the NLCA.
You can claim this tax credit if, from January 1, 2014 to March 31, 2014, you were an eligible employer and met these conditions:
- You received at least one business training tax credit certificate from the Nunavut Department of Finance for that period;
- Your eligible employee(s) successfully completed business training in that period; and
- You incurred expenses in excess of any financial assistance you received for providing business training to your eligible employee(s).
An eligible employee is an individual who's employed full-time by you and whose place of employment is in Nunavut at the time of the business training.
The business training must have been paid and provided by you to your eligible employee(s) and must meet the following conditions:
- It was conducted by a trainer, institution, person or entity that you deal with at arm's length;
- It was either provided at the eligible employee's place of employment, at another place or by distance learning via the Internet, or through correspondence; and
- It was relevant to the duties performed or expected to be performed by the eligible employee.
- Information for Residents of Nunavut (CRA website)
- T1317: Nunavut Business Training Tax Credit (individuals) (CRA website)
- Income Tax (Nunavut Finance website)