Child Fitness Tax Credit
All club fees* and association fees paid to the Taneda Karate Dojo are eligible for the Canadian Child Fitness Tax Credit.
“The child fitness tax credit lets parents claim up to $500 per year for eligible fitness expenses paid for each child who is under 16 years of age at the beginning of the year in which the expenses are paid.”
For more information on the child fitness tax credit please check the Canadian Revenue Agencies website http://www.cra-arc.gc.ca/fitness/
Eligible fees:
- Training dues – Fees paid within the calendar year (Jan 1- Dec 31). Even if they aren’t used in that calendar year. Example: Fees pre-paid for Jan-Mar 2011 are eligible for the 2010 tax credit if they are pre-paid before December 31 2010. All fees paid for Jan-Mar 2011 after December 31 2010 will be eligible for the 2011 tax year.
- Annual Association fees
Non Eligible Fees:
- Summer camp
- Uniforms
- Tournaments
- Clinics
- Gradings
- Drop-in fees
- Fees paid by Home Schools, Kidsport, Jumpstart… etc.
* Drop in fees paid to the Dojo for single classes are not eligible for the tax credit. If the drop in was used as a partial payment to the three month session then the full amount may be claimed.
*Receipts are issued January – April.