T1014-2 - fill out and auto calculate/complete form online

British Columbia Shipbuilding and

Protected B when completed

2024

Ship Repair Industry Tax Credit (Employers)

The Canada Revenue Agency uses the term Indian because it has legal meaning in the Indian Act.

Complete this form to calculate your British Columbia shipbuilding and ship repair industry tax credit for employers. If you are
completing the tax return for a corporation, use T2 Schedule 430, British Columbia Shipbuilding and Ship Repair Industry Tax
Credit.

You can claim this credit if you were a resident of British Columbia at the end of the year and you met both of the following
conditions:

•

Your principal business, at any time in the year, was the construction, repair or conversion of ships in British Columbia

•

You employed a person who was registered in an eligible program administered through SkilledTradesBC at any time in the
year

Eligible programs and completion requirements are defined by Regulation. For more information,
go to www2.gov.bc.ca/gov/content/taxes/income-taxes/corporate/credits/ship-build-repair or call 1-877-387-3332.

There are three elements to the shipbuilding and ship repair industry tax credit:

•

Basic tax credit for an eligible apprenticeship program (Red Seal and non-Red Seal) (read Part 2 of the worksheet on page 3)

•

Completion tax credit for an eligible training program (Red Seal and non-Red Seal) (read Part 3 of the worksheet on page 3)

•

Enhanced tax credit for First Nations individuals and persons with disabilities (read Part 4 of the worksheet on page 4)

Salary and wages for the purpose of calculating your credits are the salary and wages paid or payable to an employee
enrolled in an eligible program, minus any related government or non-government assistance received or receivable. Salary
and wages do not include profits, bonuses, employee benefits or stock options. For the purpose of calculating the credits,
government assistance does not include the federal apprenticeship job creation tax credit claimed for this employee.

Notes:

For the completion tax credit, the salary and wages can be applied twice for overlapping periods when more than one
level was completed within the same year.

For example, an employee hired on April 1, 2023, had completed level 3 on May 31, 2024, and level 4 on
November 30, 2024. The employer can claim the salary and wages paid from June 1, 2023, to May 31, 2024, for the
level 3 credit and claim those paid from December 1, 2023, to November 30, 2024, for the level 4 credit. The salary
and wages paid from December 1, 2023, to May 31, 2024, are included for both level 3 and level 4 credits.

If two or more employers, who are not dealing with each other at arm's length, are claiming this credit for the same employee,
the total of all amounts claimed by those employers cannot be more than the maximum amount that would be claimed if only
one employer were making the claim.

Complete the worksheet on page 3. If you have more than one employee enrolled in an eligible program, complete a separate
worksheet for each employee.

If you are filing a paper return, attach this form and the worksheets.

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(Ce formulaire est disponible en français.)

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Protected B when completed

British Columbia shipbuilding and ship repair industry tax credit

Enter the total credits calculated from line 7 in Part 2

from all worksheets.

Basic tax credit

Enter the total credits calculated from line 14 in Part 3

from all worksheets.

Completion tax credit

Enter the total credits calculated from line 21 in Part 4

from all worksheets.

Enhanced tax credit

Add lines 1 to 3.

Enter this amount on line 60570 of your Form BC479, British Columbia Credits.

Certification

Freedom of Information and Protection of Privacy Act
(FOIPPA)

I certify that the information given on this form is correct

The personal information on this form is collected for the purpose

and complete.

of administering the Income Tax Act (British Columbia) under the

authority of both this Act and section 26 of the FOIPPA.

Questions about the collection or use of this information can be

Signature

directed to the Manager, Intergovernmental Relations, PO Box

Year

Month

Day

9444, Stn Prov Govt, Victoria BC V8W 9W8. Telephone: Victoria

Date

at 250-387-3332 or toll-free

at 1-877-387-3332. Email: ITBTaxQuestions@gov.bc.ca

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Worksheet

Complete the calculations below for each employee. If you are claiming the salary and wages for an employee who is
employed by a partnership, enter your proportionate share of the salary and wages for the calculations below.

Part 1 – Employee identification

Employee name

SkilledTradesBC individual ID number

Name of eligible program

Part 2 – Basic tax credit (Red Seal and non-Red Seal programs)

You can claim the basic tax credit if, in 2024, you employed a person who was registered in an eligible apprenticeship
program (Red Seal or non-Red Seal program).

Salary and wages for the purpose of calculating this credit are those amounts paid or payable to this employee in the part of
the tax year that is within 24 months after the date the employee entered into the apprenticeship agreement.

Enter the salary and wages paid or payable to this employee in the year.

Applicable rate

x 20%

Line 5 multiplied by the percentage from line 6

Enter this amount on line 1 of the previous page.

(maximum $5,250)

Part 3 – Completion tax credit (Red Seal and non-Red Seal programs)

You can claim the completion tax credit if the employee completed, in 2024, the training in an eligible training program (Red
Seal or Non-Red Seal) and met the level 3 or level 4 requirements for that program. You can still claim this credit if the
employee completed the level in 2024 after leaving your employment.

Salary and wages for the purpose of calculating this credit are those amounts paid or payable to this employee within a 12-
month period, and ending at any time in the month that includes the completion date for the level requirements. If the
employee completed more than one level in the same year, see the notes on page 1.

Enter the salary and wages paid or payable to this employee

if level 3 completed.

Applicable rate

x 20%

Line 8 multiplied by the percentage from line 9

(maximum $5,250)

►

Enter the salary and wages paid or payable to this employee

if level 4 completed.

Applicable rate

x 20%

Line 11 multiplied by the percentage from line 12

(maximum $5,250)

►

Line 10 plus line 13. Enter this amount on line 2 of the previous page.

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Part 4 – Enhanced tax credit

You can claim the enhanced tax credit if, in 2024, the employee is eligible to claim the disability amount on line 31600 of
their return or if the employee is registered as an Indian under the Indian Act (Canada).

To claim the enhanced tax credit for an employee, you must have claimed the basic tax credit in Part 2 of the previous page.

Enhanced tax credit for the basic tax credit

Enter the amount from line 7 of the previous page.

Applicable rate

x 50%

Line 15 multiplied by the percentage from line 16

►

Enhanced tax credit for the completion tax credit

To claim the enhanced tax credit for level 3 or level 4, you must have
claimed the completion tax credit in Part 3.

Enter the amount from line 14 of the previous page.

Applicable rate

x 50%

Line 18 multiplied by the percentage from line 19

►

Line 17 plus line 20. Enter this amount on line 3 of page 2.

See the privacy notice on your return.

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