Nova Scotia Buzz
The Nova Scotia government is reminding parents and guardians they can take advantage of a new tax credit that will help reduce expenses associated with their children’s sport and art programs.
“We’re happy to see the Province’s continued commitment to sport.” said Jamie Ferguson, CEO, Sport Nova Scotia. “The benefits of participating in sport are far reaching, and we hope that the tax credit will allow more families to take part.”
Parents can apply for the The Children’s Sports and Arts Tax Credit. It is a $500 per child refundable credit that helps offset sport and art program expenses like membership fees, uniforms and equipment.
“The Children’s Sports and Arts Tax Credit is an incredibly valuable incentive to provide meaningful exposure to the arts during the formative years of a child’s development.” said Ken Schwartz, Chair, Arts Nova Scotia The benefit to every young person who participates in a creative endeavour is lasting and vital.”
The Children’s Sports and Arts Tax Credit was introduced in the 2022-23 provincial budget and is estimated to cost $4.7 million annually. It is administered through the Canada Revenue Agency.
