February 10, 2007
CRA Tax Tip: It pays to get fit!
The Canada Revenue Agency has issued a Tax Tip reminding Canadians that starting in 2007 you may be able to claim some expenses for your children's physical fitness programs.
"Did you know...
Starting in 2007, you may be able to claim the fees paid for physical fitness programs for your children under the age of 16? The newly proposed children's fitness tax credit provides parents with an annual credit of up to $500 per child to help cover the cost of their child's physical fitness programs or sporting activities fees."
For more information on this tax tip, visit the CRA web site at:
http://www.cra-arc.gc.ca/newsroom/taxtips/2007/tt070208-e.html
Posted by Taxes.ca Editorial Team [permalink]
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