Finding Funding
There are various tax credits and grants that will subsidize the cost (sometimes entirely) of hiring a student. What are you waiting for?
Ontario Co-operative 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 Ontario Co-operative Education Tax Credit allows employers to claim 25% of eligible expenditures on salaries and wages (30% for small businesses). The maximum credit for each work placement is $3,000.
Ontario post-secondary institutions are pleased to work with you to get your jobs posted.
Student Work Placement Program:
The Student Work Placement Program gives post-secondary students across Canada paid work experience related to their field of study.
Aerospace / Aviation
Biotechnology
Entrepreneurship
Environment
Manufacturing
Information and communication technology
Canada Emergency Wage Subsidy (CEWS):
Canada Emergency Wage Subsidy (CEWS)
As a Canadian employer who has seen a drop in revenue during the COVID-19 pandemic, you may be eligible for a subsidy to cover part of your employee wages, retroactive to March 15, 2020. This subsidy will enable you to re-hire workers, help prevent further job losses, and ease your business back into normal operations.
Equity and Diversity Fund
Aboriginal Participation Fund
The Ministry’s Aboriginal Participation Fund (APF) supports Aboriginal consultation capacity, education, and relationship-building activities as they relate to mineral exploration and development.
The Aboriginal Participation Fund (APF) is creating new opportunities to build and strengthen relationships among Aboriginal communities and organizations, government and industry.
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.
Entrepreneurship
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.
Research grants and funding
Scientific Research and Experimental Development (SR&ED) Program
Through the SR&ED Program, the federal government offers up to 35% investment 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.
Mitacs Accelerate Program
Solve your research challenges with academic expertise, leveraged funding, and one-to-one support from Mitacs. Internships start at four months and can scale up as much as you need — your financial contribution starts at $7,500.
Claimants can apply for SR&ED investment tax credits for expenditures such as wages, materials, machinery, equipment, some overhead, and SR&ED contracts.