The federal government announced that it will be doubling the amount parents can claim as a Children’s Fitness Tax Credit for the 2014 tax year, from $500 to $1,000.
“Everyone has heard the saying: ‘It doesn’t matter whether you win or lose, it is how you play the game,” Prime Minister Stephen Harper said. “But what’s even more important for our government is that kids get a chance to play in the first place.”
The amount claimed covers costs of registration or membership to a number of prescribed programs and applies to children under 16, or children with disabilities under 18.
For more information, visit the Canada Revenue Agency at cra-arc.gc.ca.