Join more than 7,100 other employers who have tapped into the value of co-op students from Waterloo.
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?
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
Student Work Placement Program (SWPP)
Receive up to $5,000 per co-op student
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 per work placement. Small businesses can claim 30%, up to $3,000. Each work placement needs to be a minimum of 10 weeks and maximum of 4 months. This tax credit is available for each eligible work placement and employers may have multiple work placements at the same time and throughout the year. The tax credit is per eligible work placement and there is no cap. If 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!