Ontario Children's Fitness Tax Credit
The Ontario children’s fitness tax credit provides a 15-per-cent refundable tax credit on up to $1,000 of eligible fitness expenses for Ontario children under 16 years of age at the beginning of the taxation year. For children who are eligible for the disability tax credit and have at least $100 of eligible expenses, the credit amount is increased by $500 and is extended to children under 18 years of age.
Budget 2016 proposes to phase out the children’s fitness tax credits by reducing the 2016 maximum eligible amounts to $500 from $1,000 for the children’s fitness tax credit (which will remain refundable for 2016). The supplemental amounts for children eligible for the disability tax credit will remain at $500 for 2016.
Both credits will be eliminated for the 2017 and subsequent taxation years.
Don't loose out on the last year for fitness tax credit.
