Fitness Tax Credit Information
Budget 2016 proposes to phase out the children’s fitness and arts tax credits:
- Effective for the 2016 taxation year, the maximum eligible amount per child will be reduced to $500 from $1,000 for the children’s fitness tax credit (which will remain refundable for 2016) and to $250 from $500 for the children’s arts tax credit. The supplemental amounts for children eligible for the disability tax credit will remain at $500 for both credits for 2016.
- Effective for the 2017 and subsequent taxation years, both credits will be eliminated.