Executive Education Funding in Canada
Resources for your learning journey
Executive leaders pursue professional development for many reasons, including upskilling, career advancement, networking, wellness, and personal fulfillment. From podcasts and books to courses and coaching, the resources to help support that journey are available – but not always accessible.
Like many countries worldwide, Canada has planned long-term investments in grants, tax credits, and other programs to keep our workforce globally competitive. Read on to learn about various professional development resources and funding available to individuals and organizations across Canada.
Canada Job Grant
The Canada Job Grant (CJC) offers an opportunity for employers to invest in their workforce by supporting the professional development of new and existing employees.
As a recognized training provider, CJG funding is available for The Ivey Academy’s Open and Custom programs and can offset up to 2/3 of the program fee, up to $10,000 per individual.
The CJC is available in Alberta, British Columbia, Manitoba, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Ontario, and Saskatchewan.
Newfoundland and Labrador
The Canada Training Credit
Introduced in the 2019 budget as part of the Canada Training Benefit program, the Canada Training Credit (CTC) is a refundable tax credit that helps Canadians by covering up to half the cost of tuition and other training fees. All Ivey Academy programs are eligible for this credit.
Here’s how the CTC works:
- Starting in 2019, eligible individuals accumulate $250 towards a CTC limit each year, up to a lifetime maximum of $5,000
- You claim the CTC when you complete your income tax and benefit return for a year in which you completed a training or professional development program
To qualify for the CTC:
- You must be between the ages of 26 and 65
- Be a Canadian resident
- Have filed a tax return for the previous year
- Your Canada training credit limit (CTCL) for the year is more than zero
- Tuition/fees were paid to an eligible educational institution or to certain bodies for an occupation, trade, or professional examination
- Tuition/fees are otherwise eligible for the existing tuition tax credit
To view your current CTC limit, log into the My Account section of the Canada Revenue Agency website.
Deductions for Training and Expenses
Tuition costs associated with certain programs can also be eligible for deductions.
Claim a tuition credit for eligible development programs by reporting the cost under the 'Tuition and Education Amounts' of your annual tax return. Once you complete an Ivey Academy program, contact your designated Program Manager to obtain a T2202 form.