Children’s Arts Tax Credit

Good News- Music Lessons are finally recognised (along with the Activity Tax Credit)! =) “The credit will be available for a wide range of activities that contribute to a child’s development and are not eligible for the Children’s Fitness Tax Credit. ”

According to the 2011 Budget Website,

“Parents will be able to claim the 15-per-cent non-refundable Children’s Arts Tax Credit on up to $500 of qualifying expenses per child incurred in 2011 and future years for a child who is under age 16 at the beginning of the tax year. The age limit will be 18 for children eligible for the Disability Tax Credit, and an additional $500 amount will be provided in those instances.

To qualify for the Children’s Arts Tax Credit, a program must be:

♪ ongoing (either a minimum of once a week for at least eight weeks’ duration, or five consecutive days);
♪ supervised; and
♪ suitable for children.”

This makes our MYC classes perfect for this credit.
To read more about it, you can click on this link http://www.budget.gc.ca/2011/themes/theme1-eng.html .

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