A tax credit is available for eligible amounts up to $500 per child for fees paid to register a child in an eligible program of physical activity.
To qualify for a tax credit a program must be:
- ongoing (either a minimum of eight weeks in duration with a minimum of one session per week, or, in case of the children’s camps, five consecutive days)
- suitable for children
- substantially all of the activities must include a significant amount of physical activity and contributes to cardio-respiratory endurance plus one or more of: muscular strength, muscular endurance, flexibility or balance.
- Child must be under 16 years of age at any time in the year.
- Fees must relate to cost of registration or membership in an eligible program of physical activity.
- When “family memberships” are offered the child’s portion of the membership fee must be receipted separately
- Fees can include the costs of administration, instruction and rental of facilities
- If fees include costs for accommodation, travel, food or beverages this portion must be deducted when calculating the eligible portion of fees
- Receipts for Program Fees will be issued by your KOM club.
- When licenses are purchased online thru CCN, a receipt will be forwarded to each member via email from CCN. For licenses purchased through the Manitoba Cycling Association’s office a manual receipt can be requested.
For more information contact:
Canada Revenue Agency (http://www.cra.gc.ca/fitness)