It’s Sunday, but I’ve already got the Monday blues. It’s not that I don’t like my job, it’s just that the longer winter goes on, the more I just want to do nothing but curl up with a book and a fresh pressed coffee. A beach sure sounds nice right about now. But I digress …
I’m actually here to write about the taxes. I kid you not. I really am. Specifically, Canada’s newly introduced Children’s Arts Tax Credit. You’ve already likely heard about the Children’s Fitness Tax Credit, which was introduced in 2007. But now, Arts can receive the same type of credit when you file your taxes for 2011.
Free money for me!
For me, this is the equivalent of free money, since we’ve been paying for Stella to participate in these kinds of programs for a few years now. So what kinds of activities are eligible? According to the Canada Revenue Agency‘s web page, eligibility seems fairly broad. It includes an activity that:
- contributes to the development of creative skills or expertise in artistic or cultural activities;
- provides a substantial focus on wilderness and the natural environment;
- helps children develop and use particular intellectual skills;
- includes structured interaction among children where supervisors teach or help children develop interpersonal skills; or
- provides enrichment or tutoring in academic subjects.
By that definition, one would assume that anything from Girl Guides, to piano lessons, to painting classes would be eligible. Your best bet is to ask the organization itself and ensure you collect and keep your receipt.
Someone’s done the math, and apparently if you claim $500 worth of art credits, then you will save $75 when you file your taxes. To learn more and check the details, you can click on the icons below.
Free money for you!
What’s not to like about free money, right? So, I’m going to do a bloggy giveaway for this $50 bill. All you need to do is help me raise awareness about this new tax credit.
How can you help spread the word?
- Tweet the following: “When you file your taxes this year, don’t forget to claim your child’s arts activities! http://ow.ly/9iBxg #freemoney @coffeewithjulie”
- Email, phone, or tell a friend
- Update your Facebook status to let your friends know
- Share your thoughts on this Arts credit on your blog
Then let me know in the comments below (1) how you helped spread the word, and (2) what you would do with this free money. I’ll pick a winner randomly next Sunday at 5pm.
Disclosure: A PR agency has sponsored this post, but that $50 bill is actually mine. I will mail it to the winner.
Edited on Feb 29th to add: Um, people don’t seem to be following the instructions above for how to enter this giveaway! If you’ve already commented below, I’ll count your entry … but next giveaway I will be super-strict-teacher about it! You’ve been warned!
Edited on March 5th to add: And the winner of the Free Money Monday is Lisa Sansom! Congrats Lisa, I will be in touch to get your mailing address and thanks so much for helping to spread the word via your twitter!