New tax credit for parents
Mississauga, Ontario, August 18, 2011... The Honourable Gail Shea,
Minister of National Revenue, accompanied by Bob Dechert, Parliamentary
Secretary to the Minister of Foreign Affairs and Member of Parliament
for Mississauga-Erindale, today visited Visual Arts Mississauga to
promote the new children's arts tax credit, a new non-refundable credit
passed this year 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, Karen Kain, Brett Lawrie, or The Tragically Hip, 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 families in Mississauga send
their kids to participate in enriching art workshops and music classes
right here in our community", added Bob Dechert. "I am pleased our
government is helping to give children and teens the opportunity to
express their creativity and develop new skills."
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 www.cra.gc.ca/artscredit.