for families, who is eligible and how does it work?
Beginning January 1, 2007, the Government of Canada will allow a non-refundable tax credit on eligible amounts of up to $500 paid by parents to register a child (under the age of 16) in an eligible program of physical activity. The Government will introduce legislation that will define an eligible program, and there will be amendments to the Income Tax Act. Please note that Bill C28, a second Act to implement certain provisions of the budget tabled in Parliament on May 2, 2006, including the Children’s Tax Credit, has received Royal Assent. This means that the Children’s Fitness Tax Credit is now a legislated tax regulation. For more information see the Canada Revenue Agency (CRA) website.
