The Childrens Fitness Tax Credit
The Children's Fitness Tax Credit
If parents have kids enrolled in sports, they can now claim expenses of up to $1,000 per year for each eligible child. That's double what they could have claimed previously.Parents can take advantage of the new $1,000 limit when they file their tax returns for 2014.Starting in 2015, the credit will become refundable, which means that families with incomes too low to be taxable will also benefit when they file their 2015 tax returns. CRA has an excellent link on their website with more detailed information: http://www.cra-arc.gc.ca/fitness/
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