Over the past several years, there have been many increases to the arts and fitness credits that were available for children.
Unfortunately, the 2016 budget announced the eventual elimination of these credits federally.
The maximum eligible amount for the refundable children’s fitness tax credit will be reduced from $1,000 to $500 in 2016.
The maximum eligible amount for the non-refundable children’s arts tax credit will be reduced from $500 to $250 per child. Both credits will be eliminated in 2017.
As of now, there have been no announcements indicating that the province is planning on eliminating their portion of the credit.