| 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
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