Children's Fitness Tax Credit (CFTC) changes

The government is proposing to double the Children's Fitness Tax Credit (CFTC), e.g. to increase the maximum limit to $1,000 from $500. The change would take effect starting in the 2014 tax year. Parents would be able to take the advantage in the spring of 2015 when they file their 2014 tax returns.

Another change is to make the credit refundable begenning in the 2015 tax year. Making the tax credit refundable would make those parents who do not earn enough to pay income taxes also benefit from this measure. 

News - November 16, 2014

Family tax cut

Universal Child Care Benefit changed in 2015

Child care expenses deduction limits increased in 2015

What is a tax credit?

A list of tax credits with explanation

 

Additional information