Children's Fitness
Tax Credit
The Government of
Canada proposes to allow, starting in 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.
We have had numerous
requests for receipts for last year's payment. However, the credit does
not start until the 2007 tax year. The registration fees paid in 2006 do
not apply to the 2007 tax year. The following is an excerpt from the
Government web site regarding receipts.
Issuing receipts
You should issue a
receipt for income tax purposes for amounts paid in 2007 only.
Amounts paid in 2006 do not qualify even if all or part of the
activity takes place in 2007. |
If you are interested in reading more
from the Government web site, the following two links provide:
http://www.cra-arc.gc.ca/fitness/
http://www.cra-arc.gc.ca/whatsnew/organi-e.html
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