The Reminder is making its archives back to 2003 available on our website. Please note that, due to technical limitations, archive articles are presented without the usual formatting.
Reaching into your wallet to have your child in sports won't be as painful thanks to the Children's Fitness Tax Credit. The new credit was introduced earlier this month in the Conservative government's federal budget. The Children's Fitness Tax Credit allows parents with children under the age of 16 to claim up to $500 annually. Rick Lambert, director of community development for Sport Manitoba, said they have yet to receive official word from the government on the new credit. "Our understanding is that the tax credit will only come into effect on January 1, 2007 and that only youth registrations paid for programs, after this date will be included," he said in an e-mail. "However, until we find more details and the process to be used to claim the credit, it would probably be best for parents to keep all official receipts for their children's registration in all sport and recreation programs." A press release from Sport Manitoba noted that to be eligible for the credit, fees must be paid in respect of eligible expenses in an eligible program. Expenses included are operation and administration of the program, instruction, renting facilities, and equipment used such as jerseys trophies. Purchasing or renting equipment for personal use isn't valid. Meals, travel and accommodations also are not included. The receipt must contain information sufficient for the Canada Revenue Agency to monitor.5/24/2006
