Ontario Liberals to introduce children’s activity tax credit
Posted September 6, 2010 1:46 pm.
This article is more than 5 years old.
TORONTO, Ont. – Ontario Premier Dalton McGuinty has announced that his government will introduce a children’s activity tax credit a day before kids head back to school.
The proposal is for a new permanent and refundable tax credit, which would make it simpler for parents to involve their children in sports, arts and other activities.
Under the proposal, parents would be able to claim up to $500 of eligible expenses per child, receiving a refundable tax credit worth up to $50 per child, or $100 if the child has a disability.
The credit could benefit more than 1.8 million children in Ontario, and will apply to any eligible expenses incurred on or after January 1, 2010, meaning parents would receive the credit after filing their 2010 tax returns.
The province said they intend to introduce the legislation this fall, when more details will be provided.
