Camp programs are eligible to be claimed as a Children’s Fitness Tax Credit.
What is the Children’s Arts Tax Credit (CATC)?
Starting in the 2011 tax year, the Federal government began offering a new child tax credit, the CATC. Parents can claim a non-refundable tax credit for programs for their child that contribute to his or her development and do not fall under the Children’s Fitness Tax Credit. You can claim up to $500 per year per child under 16 at the beginning of the year. Different rules apply to children receiving the disability tax credit.
How is the credit calculated?
Each year, the CATC will represent the lowest personal income tax rate (15% in 2011) multiplied by the eligible amount for each child.
Who can claim the CATC?
You can claim the cost of registration or membership in an eligible program that your child, your spouse’s or your common-law partner’s child was enrolled in.
What programs are eligible?
Are there other requirements?
Yes. The program must be ongoing, that is either a minimum of once a week for at least 8 weeks or 5 consecutive days, supervised and intended for children. The program cannot be part of a school curriculum.
Who determines if a program is eligible for the Children’s Arts Tax Credit?
The organization offering the program will determine that. They will also give you a receipt that is acceptable to the Canada Revenue Agency.
What happens if my child is registered for a program that offers both physical and artistic activities?
In that case, you will get the Children’s Fitness amount for your expenses, but not the art tax credit.
Let’s take a trip back in time to the year 1925. (more…).
The OCA Conference Committee is proud to announce that Jesse Wente of CBC will be presenting the opening Keynote Address at the OCA 2017 A.