The following information is now available on the CRA Web site:
Vancouver, British Columbia, January 18, 2012… The Honourable Gail Shea, Minister of National Revenue, today visited the University of British Columbia 4-H Community Club to promote the children’s arts tax credit, a new non-refundable credit passed in the 2011 federal budget.
“Parents whose children participate in paid artistic, cultural, recreational, and developmental programs will now enjoy the same benefit as parents whose children participate in paid programs of physical activity. Our Government believes whether a child is inspired by Justin Bieber, Hedley, Ryan Reynolds, Trevor Linden or Maelle Ricker, parents should receive a tax credit to help pay for the programs that will help their children live out those dreams,” said Minister Shea.
“The children’s arts tax credit will help Vancouver families enroll their kids in programs that contribute not only to their love of the arts, but also to the development of their intellectual and interpersonal skills,” added Minister Shea.
In addition to fitness programs covered by the children’s fitness tax credit, parents can now claim money spent on programs that focus on fine arts, music, performing arts, outdoor wilderness training, learning a language, studying a culture, tutoring, and more. When parents claim the children’s arts tax credit-up to a maximum of $500 of the cost of programs-they save as much as $75 at tax time per child claimed.
To find out if your child’s program is eligible for the children’s arts tax credit, go to http://www.cra.gc.ca/artscredit.
On Wednesday, January 18, 2012, the Honourable Gail Shea, Minister of National Revenue, visited the University of British Columbia 4-H club, to promote the Children’s Arts Tax Credit. This new tax credit, passed in Budget 2011, is available to parents whose children participate in artistic, cultural, recreational, and developmental programs.
Source: CRA Newsroom