Parents who have enrolled their children in hockey, dance classes or art lessons, as of Jan. 1, will get a new tax break this year.
The Ontario government has passed a new Children’s Activity Tax Credit providing up to $50 back for each child under 16. Parents can get up to $100 back if their child has a disability and is under 18.
The credit covers sports like hockey and soccer, but other activities like first aid, cadets, choir, pottery and chess are also eligible. A longer, but not definitive, list is available at www.ontario.ca/kidscredit.
The credit is refundable, so families of all income levels can benefit. Those who pay income tax will receive a deduction on the amount owed. Those who don’t pay income tax will get a refund. If an activity meets the criteria for the federal fitness tax credit, it automatically qualifies for the provincial credit.
In addition, this credit is retroactive, meaning activities kids joined in 2010 are eligible when parents file their taxes this upcoming spring. Just remember to keep your receipts.
For more information, phone 1-866-668-8297 or visit www.ontario.ca/kidscredit.
