I love Summer Camps for kids.
I have many happy memories of being a young teenager and being active at a summer camp, swimming in the lake and canoeing. The activity was great for my physical and mental health.
Along with all of the fun and health benefits of a summer camp there are also tax credit benefits for camps.
The Tax rules state the following: –
Note: The following was copied from the Canada Revenue Canada website at the date of this post first being published, in 2015. Please refer to the C.R.A. for any updates or changes to this information. Thank you.
You can claim payments for child care expenses made to:
- caregivers providing child care services;
- day nursery schools and daycare centres;
- educational institutions, for the part of the fees that relate to child care services;
- day camps and day sports schools where the primary goal of the camp is to care for children (an institution offering a sports study program is not a sports school); or
- boarding schools, overnight sports schools, or camps where lodging is involved (read the note in Part A of Form T778, Child Care Expenses Deduction).
So When you pay for your kids to attend a summer day camp or an over night week long camp, be sure to keep all of the receipts to use for your child care expenses tax credit.
How will this affect you? It all depends. Yes, there are some limits, but the best answer is to always keep the receipts and ask your tax return preparation specialist to enter the information and make the claim.
First if your child was born in 2008 or earlier then you can apply this, also the amount of the claim is a maximum $175. This is not absolute answer as there are always other variables, but consider this example. If you have seven year old child who spends a time at a day camp and your expense is $175, then you can make the claim on the tax return and you reduce the tax that you owe by $50.
This reminder and your action to keep the summer Camp receipts may be worth $50 per child / per week at camp to you next April.
So if this post is worth $50 to you, then please share this post with your friends and let them know that Spears bookkeeping has helped you to save money. Thank you…
The Spears bookkeeping basic tax return service is charge a flat rate of $60 per return plus GST. So if you have two kids who can make this claim. Then this bit of information is worth the price of paying for the Spears Bookkeeping Tax return service.
Call us and let us serve you next tax return season, call now 403-831-7821 and let’s book your personal appointment.