Subject: New Finance Canada document notification
The following News Release or Speech has just been posted on the Finance Canada Site.
Canada’s New Government Receives Report on Children’s Fitness Tax Credit
Ottawa, October 26, 2006
Canadaâ€™s New Government Receives Report on Childrenâ€™s Fitness Tax Credit
* Report of the Expert Panel for the Children’s Fitness Tax Credit
The Honourable Jim Flaherty, Minister of Finance, today received a report from a panel of health and physical fitness experts recommending which programs of physical activity should qualify for the Childrenâ€™s Fitness Tax Credit proposed in Budget 2006.
“Canadaâ€™s New Government appreciates the panelâ€™s selfless efforts,” said Minister Flaherty. “For a salary of $1 each, the three panel members spent much of their summer and early fall meeting with interested Canadians and organizations to help define eligibility for this credit. I look forward to reviewing their recommendations and I thank them for their dedicated work on behalf of all Canadians.”
The members of the panel were:
* Chair, Dr. Khristinn Kellie Leitch, Chair of Paediatric Surgery at the Childrenâ€™s Hospital of Western Ontario/Schulich School of Medicine and Dentistry.
* Mr. Michael Weil, President and Chief Executive Officer of YMCA Canada.
* Mr. David Bassett, Senior Investment Executive at Scotia McLeod and Co-Chair of Sports Break, an organization that promotes a tax credit for organized youth sports.
Canadaâ€™s New Governmentâ€™s Childrenâ€™s Fitness Tax Credit is a means to promote regular exercise, balanced growth and healthy lifestyles among children. This tax credit should come into force on January 1, 2007, and will apply to fees paid for an eligible program of physical activity for children under 16 years of age.
“The Childrenâ€™s Fitness Tax Credit will encourage more children to be physically active and help parents with the costs of organized sports and fitness activities,” said the Honourable Michael Chong, Minister for Sport.
A copy of the panelâ€™s report can be accessed at www.fin.gc.ca/activty/pubs/ctc_e.html.
For further information, media may contact:
Office of the Minister of Finance
Department of Finance