|
| |
Ontario -> Personal tax credits -> Children's activity tax credit
Children's Activity Tax CreditThe Ontario Children's Activity Tax Credit is new for the 2010 tax year, and is a refundable tax credit claimed on form ON479. Many instructional activities such as music, chess, gardening and art are eligible for this credit, besides the fitness activities which qualify for the Federal Child Fitness Tax Credit. The refundable tax credit amount is 10% of a maximum of $500 of eligible activities for each child age 16 or less on December 31, or for each child age 18 or less on December 31 who qualifies for the disability amount tax credit. The $500 is indexed for inflation each year. The 2011 maximum is $509, and $523 for 2012. If the child age 18 or less qualifies for the disability amount tax credit, and at least $100 was paid for registration or membership fees for qualifying programs for that child in the year, an additional $509 can be claimed for 2011. This means if $300 was spent on qualifying activities, the refundable tax credit amount would be 10% x $809 ($300 + $509), or $80.90. The tax credit may be claimed by either spouse, or apportioned between them. Any costs which qualify as child care costs must first be claimed as child care costs, with the remainder of eligible costs then claimed through the fitness credit. For more detailed information on which activities are qualifying activities, see the Canada Revenue Agency document 5006-PC Information for Residents of Ontario, and find the information on Line 30, Ontario Children's Activity Tax Credit. The Ontario refundable Children's Activity Credit is calculated by the Canadian Tax Calculator, but the amount is not checked to ensure that the maximum is not exceeded. See also: Federal Children's Arts Tax Credit (CATC)
Revised: March 11, 2012
|
|