Join more than 7,100 other employers who have tapped into the value of co-op students from Waterloo. Post your jobs on WaterlooWorks (our free job board) today.
When you hire co-op students, you may be eligible to receive up to 50% of the student's wage (up to a maximum of $5,000 per student) along with an Ontario Co-operative Education tax credit of up to $3,000.
How does co-op work?
A Fall 2022 work term can range from 12 to 16 weeks with a minimum of 280 hours, giving your organization the flexibility with start and finish dates for your student.
Even though the Fall term is starting on September 6, 2022, you can post a job, interview and hire into late October.
If you have unique hiring needs, we offer flexible hiring options. Feel free to reach out to our team at firstname.lastname@example.org!
Why hire our co-op students?
Find out why employers (like Microsoft) hire Waterloo co-op students
Top wage subsidies and tax incentives for hiring co-op
Through SWPP, organizations in Canada that offer full-time employment opportunities for full-time Canadian post-secondary students can receive wage subsidies. There are 10 partners that deliver this funding.
|How much is this funding?||
Funding will cover up to 50% (up to a maximum of $5,000 per placement)
Students hired from under-represented groups may be eligible to have up to 70% of their wages subsidized.
|Am I eligible?||
|How can I apply?||You apply directly to each funding partner. We've put together a helpful list of details for each of the 10 funding partners. Take a look for more details!|
|What's the application deadline?||Deadlines vary by funding partner - but all 10 are still currently accepting applications for the September to December work term.|
Ontario Co-operative Education Tax Credit
$3,000 tax credit per co-op student
|How much is the tax credit?||
Large corporations can claim 25% of expenditures, up to $3,000, while small businesses can claim 30% of expenditures up to $3,000, per eligible work placement. This tax credit is available for each work placement. Each work placement needs to be a minimum of 10 weeks and maximum of 4 months with no cap on the amount of eligible work placements an employer submits.
Employers may have multiple work placements which take place at the same time and throughout the year (I.e. iIf an organization decides to hire for an eight-month work term, or two students for four-month work terms, both would be considered as two work placements and would be eligible for a total tax credit of up to $6,000).
|Am I eligible?||Any Ontario employer hiring students from a post-secondary co-op program|
|How can I apply?||
Corporations claim the tax credit on Schedule 550 of their T2 corporation income tax return. Unincorporated businesses claim the credit on Form ON479 in their personal tax return.
Learn more about the forms you need to submit on the government website.
|What's the application deadline?||Tax season each year|
A tip to maximize your funding
Questions or want more info? Let's chat!