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Children's Fitness tax Credit At Last

ImageKeep 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

 
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