For Parents - Children's Fitness Tax Credit[推荐]

[fungmaomao]

Just a friendly reminder to all parents:


The Government of Canada proposes to allow, starting in 2007, a non-refundable tax credit on eligible amounts of up to $500 paid by parents to register a child in an eligible program of physical activity.

The following information about the proposed tax credit is for parents of children under the age of 16. If you are part of an organization providing programs of physical activity for children under the age of 16, please see Information for organizations providing eligible programs of physical activity.

http://www.cra-arc.gc.ca/whatsnew/fitness-e.html

 

[Teddy]

Thanks for the very useful info!

 

[fungmaomao]

Re: Re: For Parents - Children's Fitness Tax Credit[推荐]

最初由 lungao 发布


But we are filing 2006 tax return right now. My understanding is we have to wait until next year and we can only use our spending to kids during 2007/01/01 and 2007/12/31, as tax credit in 2007. The money we spent in 2006 and before will be wasted.

Am I right?

You're absolutely correct. I was not thinking about the 2006 tax return.

I just wanna remind parents to keep the receipts coz I see many parents enroll their kids in ski classes and it would be great if they can get some $$ back.

btw, the money they spend on kids won't be wasted, regardless of the tax credit, coz the kids still enjoy the activities right?