ON – Children’s activity tax credit to be implemented for 2010

Earlier this year, the Ontario government announced the creation of a children’s activity tax credit. Under that program, which has now been approved by the provincial legislature, parents can receive, for 2010 and subsequent years, a refundable tax credit of up to $50 per child under the age of 16 and up to $100 per child with a disability under the age of 18 to help offset the cost of enrolling their children in qualifying activities.

Unlike similar credits provided by the federal and other provincial governments, the Ontario credit may be claimed for extra-curricular activities other than sports. Details of which types of activities will qualify for the credit are provided on the Ontario Finance Web site at http://news.ontario.ca/mof/en/2010/09/ontario-childrens-activity-tax-credit.html.

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