Minister Shea highlights new tax credit for parents
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Mississauga, Ontario, August 18, 2011... The Honourable Gail Shea, Minister of National Revenue, accompanied by Bob Dechert, Parliamentary Secretary to the Minister of Foreign Affairs and Member of Parliament for Mississauga-Erindale, today visited Visual Arts Mississauga to promote the new children's arts tax credit, a new non-refundable credit passed this year 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, Karen Kain, Brett Lawrie, or The Tragically Hip, 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 will help families in Mississauga send their kids to participate in enriching art workshops and music classes right here in our community", added Bob Dechert. "I am pleased our government is helping to give children and teens the opportunity to express their creativity and develop new skills."
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.