Children's Fitness Tax Credit

Revenue Canada has released further information regarding this Tax Credit. The Government of Canada proposes to allow, starting in January 1st 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. You can only claim fees paid in 2007. Amounts paid in 2006 do not qualify even if all or part of the activity takes place in 2007.

Receipts will be issued for winter registrations when the payment was dated Jan 1st, 2007 or later.

www.cra-arc.gc.ca/whatsnew/fitness-e.html and www.fin.gc.ca/news06/06-084e.html