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Fitness Tax
Credit
The Johnson School of Highland Dance Inc. issues receipts for tuition which
may be used to offset your family's Federal Income Tax bill. If you require a
receipt for your 2007 tuition please contact the Director Jennifer Johnson-George. Information on
the tax credit and useful links are included below.
We do not
accept liability for errors or inaccuracies with this information, please contact a
professional accountant, Revenue Canada, or a tax advisor to assess how the Children's
Fitness Tax Credit applies to your family.
Summary Details
- Who Qualifies - Dependent children
under the age of 16.
- Amount - Parents may claim a maximum of $500 per year for eligible fees
paid for each child who is under 16 at any time during the year.
- Estimated Savings - News reports
estimated the savings per child to be $80 annually. However, this amount will vary
based on each family's tax position and the level of eligible fees paid per child.
Please contact a professional accountant, Revenue Canada, or a tax advisor to assess how
the Children's Fitness Tax Credit applies to your family
- What Qualifies - The Department of
Finance has indicated that, in order to qualify for the tax credit, a program must be:
- Ongoing (either a minimum of eight weeks duration with a
minimum of one session per week or, in the case of children's camps, five consecutive
days)
- Supervised
- Suitable for children
- Substantially all of the activities must include a
significant amount of physical activity that contributes to cardio-respiratory endurance
plus one or more of: muscular strength, muscular endurance, flexibility, or balance
- You can only claim fees that are related to the cost of
registering a child in an eligible program of physical activity.
- How to Claim - You can apply on
your 2007 tax return - but only with valid receipts.
- Receipts - Receipt for
income tax purposes for amounts paid in 2007 only may be issued. Amounts
paid in 2006 do not qualify even if all or part of the activity takes place in 2007. A
receipt should contain the following information:
- Organization's name and address
- Name of the eligible program or activity
- Total amount received, date received, and the amount that is
eligible for the children's fitness tax credit
- Full name of the payer
- Name of the child and child's year of birth
- Authorized signature
Links
© Johnson School of Highland Dance
Inc. 2004
All contracts, claims, and/or disputes
relating to, or involving this website and/or Johnson School of Highland Dance Inc. are
subject to the Exclusive Jurisdiction of the Province of Alberta, Canada.
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Alberta Dance Alliance Press Release -