Children’s Fitness Tax Credit

Remember this is the year to keep the paperwork for your child’s Karate class. The government of Canada is allowing a non-refundable tax credit, up to $500 per child (under 16), paid by parents for registration of a child in a physical activity.

According to the government’s site; a “eligible program” must be;

• ongoing (either a minimum of eight weeks duration with a minimum of one session per week or, in the case of children’s camps, five consecutive days)
• supervised
• suitable for children
• substantially all of the activities must include a significant amount of physical activity that contributes to cardio-respiratory endurance plus one or more of: muscular strength, muscular endurance, flexibility, or balance.

To learn more about the children’s fitness tax credit for 2007 go to; http://www.cra-arc.gc.ca/whatsnew/fitness-e.html