Good news for gymnasts?
Starting with the 2007 tax year, the Government of Canada allows a non-refundable tax credit based on eligible fitness expenses paid by parents to register a child in a prescribed program of physical activity. …
The children’s fitness tax credit lets parents claim up to $500 per year for eligible fitness expenses paid for each child who is under 16 years of age at the beginning of the year in which the expenses are paid.
Most likely this is short-sighted, doomed-to-fail, do good Socialist economic quackery.
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Now, in the Province where I live in Canada — Alberta — an additional $500 fitness tax credit might soon be available.
I’m not the only doubter:
Scott Hennig of the Canadian Taxpayers Federation said the tax return on that $500 could be as little as $50.
“All it does is make our tax code more complex and offers people very little in terms of real dollar value.”
Canadians might as well take advantage of these deductions, while they can.
Gymnastics Coaching.com 