Keep your receipts for the cost of your childs sports and fitness activities. At last there will be a deduction for putting your children in fitness or sports activities starting in the 2007 tax year.

As long as your child is under 16 years old and you get the correct receipts there will be a $500.00 non refundable tax credit for each child under 16 years old. According to the CRA website, the details of this new tax deduction are just being finalized.

"Parents are encouraged to ask for and keep all receipts when they register their children in 2007 for physical activity programs that may qualify."

More information is available here.

Pat

Write Comment
Please keep the topic of messages relevant to the subject of the article. Personal verbal attacks will be deleted. Please don't use comments to plug your web site.. Such material will be removed
Name:	Guest
Title:
Comment:
	Enter what you see: * tips: hit Reload page before writing a text if you have difficulty reading characters in image