Children's Tax Credit
New as of 2007, the Canadian government is proposing to allow parents to claim up to $500 in tax credits per year for membership fees paid for each child who are under 16 participating in a physical activity. Be sure you request your tax receipts from your Instructor or front desk staff when paying your monthly fees. This tax credit is not retroactive and is only valid for fees paid after Jan 1, 2007.
More information, visit www.cra-arc.gc.ca/fitness for more information.
