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| Sault Youth Soccer Club and League Information on Children's Fitness Tax Credit
Download SYSCL Fitness Tax Credit Receipt Form (PDF format)
Starting in 2007, the Government of Canada allows a non-refundable tax credit on eligible amounts of up to $500 paid by parents to register a child in an eligible program of physical activity.
Key points to remember about children's fitness tax credit:
- The credit does not apply to registration fees paid prior to 2007
Only children under the age of 16 are eligible for tax credit
Maximum eligible amount to be claimed is $500 per year per child If your child is involved in more than one sport, start with the sport(s) with the highest registration fee. You may be able to claim the entire eligible amount by providing one receipt instead of collecting them from several different sport organizations
Some expenses included in the SYSCL registration (e.g., cost of banquet and photos) are not eligible for tax credit
Tax credit is calculated by multiplying the eligible amount by the lowest marginal tax rate (15.5% in 2007 and 2008)
For more information on children's fitness tax credit visit Canada Revenue Agency website at http://www.cra-arc.gc.ca/fitness/
Created by: Michael Ter-Mikaelian -- Last updated:Feb 14, 2013
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