Fitness Tax Credit

Its back to school time, and now that almost everyone is back, parents are looking for after school and recreation programs to keep children active. Even for parents themselves too! But there are a few things that might be good to know before you jump into any programs.

Full information about the Children’s Fitness Tax Credit can be found here.

Under the Children’s Fitness Tax Credit, there are two types of tax deductions available:

1. Fitness Credit

– The deduction is $1000 for children under 16 (tax credit of $150) and for children qualified for the disability deduction, it is 1500 (tax credit of $225).

2. Arts Credit

– The deduction is $500 ($75 tax credit) for children under 16 and for children qualified for the disability deduction, it is $1000 ($150 tax credit)

To qualify for both, the child must be under 16 at the beginning of the year when the activity started or under 18 if they qualify for the disability credit.

Now the question is which programs qualify for the tax credit.

The program must be 8 weeks or longer in duration (or of 5 consecutive days) and more than 50 % of the time involves physical activity such as soccer, softball, hockey, skiing and even horseback riding.

As for arts, programs such as music, painting, guides, swimming, acting and tutoring can be applicable as options for kids.

Along with the children, there is also an Adult Fitness Tax Credit that may be implemented, find out more information here: http://adultfitnesstaxcredit.ca/ 

If this helped you decide what your children are enrolling in, comment below on what you decided to do!