How many Camps are including a receipt to Families for the Child Fitness Tax Credit???
If so, how are you calculating this amount, or are camps providing a receipt for the Full Amount???
Please reply to this message to provide some feedback for camps to get a sense of what others are doing.
2 comments:
I was in touch with a representative from Canada Revenue Agency (CRA). Please visit their site at www.cra-arc.gc.ca/fitness/ for complete description.
As a camp, you must take the full fee deduct the session's food and lodging (each camp will have to determine this portion), then calculate in a typical day how many hours per day is dedicated to specific concentrated physical activities (that "contributes to cardio-respiratory endurance", plus one or more of muscular endurance, flexibility or balance)"
Continuation of previous blog comment - Once you have determined how many actual hours you then must calculate that number from a percentage perspective.
Camp Fees ie)$1000
Deduct Food and Lodging $450
Net Amount is $550.00
Determined 30% of Day is physical activities based. Therefore, 30% of $550 is $165.00 and that becomes the Fitness Tax Credit Receipt you would issue. Hope this helps. Brenda at BB Camp
Post a Comment