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Archived - Minister Shea highlights new tax credit for parents
Victoria, British Columbia, January 17, 2012 ... The Honourable Gail Shea, Minister of National Revenue, today visited the Art Gallery of Greater Victoria to promote the children's arts tax credit, a new non-refundable credit passed in the 2011 federal budget.
"Parents whose children participate in paid artistic, cultural, recreational, and developmental programs will now enjoy the same benefit as parents whose children participate in paid programs of physical activity. Our Government believes whether a child is inspired by Justin Bieber, Hedley, Ryan Reynolds, Trevor Linden or Maelle Ricker, parents should receive a tax credit to help pay for the programs that will help their children live out those dreams," said Minister Shea.
"The children's arts tax credit is a step on the road to instilling in our children a love for the arts. I'm pleased that this credit will help families from Victoria enroll their kids in great local arts development programs," added Minister Shea.
"Studies have shown that arts education help youth develop skills in critical thinking. This will be increasingly important as Canada develops its creative economy" added John Tupper, Director of the Art Gallery of Greater Victoria.
In addition to fitness programs covered by the children's fitness tax credit, parents can now claim money spent on programs that focus on fine arts, music, performing arts, outdoor wilderness training, learning a language, studying a culture, tutoring, and more. When parents claim the children's arts tax credit-up to a maximum of $500 of the cost of programs-they save as much as $75 at tax time per child claimed.
To find out if your child's program is eligible for the children's arts tax credit, go to www.cra.gc.ca/artscredit.
On Tuesday, January 17, 2012, the Honourable Gail Shea, Minister of National Revenue, visited the Art Gallery of Greater Victoria, to promote the Children’s Arts Tax Credit. This new tax credit, passed in Budget 2011, is available to parents whose children participate in artistic, cultural, recreational, and developmental programs.
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National Revenue Minister Gail Shea today visited the Art Gallery of Greater Victoria to promote the new children's arts tax credit. The credit can save parents up to $75 at tax time when they claim the costs of artistic, cultural, recreational and developmental programs for their children.
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Office of the Minister of National Revenue
Canada Revenue Agency
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