Children's Fitness Tax Credit
As of 2007, the Government of Canada implemented a non-refundable tax credit based on eligible fitness expenses paid by parents to register a child in a prescribed program of physical activity. Tong Moo Do Martial Arts is an approved activity for this innovative tax credit.
It's always beneficial to get Canadian kids involved in sports. It keeps them fit and healthy. There has been an increase in child obesity and Canada wants to encourage families to get their kids involved in physical activities by helping out with the costs.
The children's fitness tax credit lets parents claim up to $500 per year for their Tong Moo Do tuition, for each child who is under 16 years of age at the beginning of the year in which the tuition is paid.
To find out more, visit: http://www.cra-arc.gc.ca/fitness/