Every parent wants to provide their children with all the tutoring help
they need. For many Canadian parents, providing extra-mural activities
for their children’s development has not been possible due to financial
constraints. Now parents are getting a welcome reprieve from the costs
of tutoring and other developmental activities thanks to two tax credits
offered by the
Canadian Economic Action Plan. The Children’s Fitness Credit and the Children’s Art Credit
refunds parents a portion of the money they use to pay for tutoring and
other activities.
Children’s Art Credit
If your student is enrolled in an activity such as fine arts, performing
arts, outdoor wilderness training, learning a language, studying a culture,
music or tutoring, you can get a tax refund from the government come tax
time. The credit is a non-refundable 15 percent up to $500. Through the
tax credit, the government hopes to increase participation in activities
that help to develop the creative skills of children in artistic or cultural
activities, encourage greater natural and wilderness awareness and improve
intellectual skills by funding tutoring vital to the academic development
of students. This funding of academic development incorporates one-on-one
tutoring companies like
Tutor Doctor. If your child is struggling, has learning problems or wants to excel
at their studies, one-on-one tutoring is an excellent way to help them
succeed. If your teen is preparing for the SATor ACT exams, then one-on-one
tutoring gives them the personal attention they need to get the best college
entrance scores. For a comprehensive look at the Children’s Art
Credit, watch the video
here.
Children’s Fitness Credit
Effective since January 1, 2007, the Children’s Fitness Credit focuses
on promoting the health and development of children. While tutoring, sports
and cultural activities contribute positively to children’s development,
parents are often not able to afford these extra-mural programs. Now help
is at hand; the Canadian Government has instituted the Children’s
Fitness Credit to help alleviate the financial burden and encourage parents
to enroll their children in programs that contribute to their academic
and cultural development as well as their health and wellbeing. Like the
Arts Credit, parents get a 15% non-refundable credit for children’s
activities up to $500.
An example of how the Arts and Fitness credits works from the Canadian
Economic Action Plan website:
Rick and Andrea have two young children, Adam and Chloe. Every year, Adam
plays in a minor hockey league and attends a week-long music camp in the
summer, while Chloe plays competitive soccer and takes art lessons. With
the introduction of the Children’s Arts Tax Credit, Rick and Andrea
may claim between them up to $500 for Adam’s music camp and up to
$500 for Chloe’s art lessons—this is in addition to eligible
expenses of up to $500 they may claim for Adam’s hockey and up to
$500 for Chloe’s soccer under the Children’s Fitness Tax Credit.
As a result, in 2011, Rick and Andrea may claim a credit on up to $2,000
in expenses for their children’s activities.
