Earlier this year, I had the privilege to take part in the Jumpstart Games in Cochrane. This fundraising event supports the Jumpstart charity, which has helped more than 760,000 Canadian kids afford to participate in sports since 2005.
I have always felt the benefits of introducing children to athletic pursuits go far beyond encouraging healthy lifestyles.
Through sports, kids can learn the importance of hard work, determination and dedication; enduring Canadian values that matter in all walks of life.
That’s why I fully support the goals of charities like Jumpstart, and the thousands of volunteers whose selfless dedication makes kids’ sports possible.
In 2006, our federal government stepped up to the plate to encourage greater participation in kids’ sports, creating the Children’s Fitness Tax Credit (CFTC).
This tax allowed parents to claim up to $500 in children’s athletic expenses each year.
The CFTC has proved incredibly popular; today it currently provides 1.4 million families with total tax relief of about $115 million per year.
The success of this initiative exceeded all expectations, and in 2011 our government pledged to double the CFTC once the federal budget was balanced.
Over the past four years our government’s low-tax plan for jobs and growth has paid incredible dividends, to the point where we can now confidently predict a surplus in 2015.
Therefore, on October 9th, our government announced plans to double the CFTC. In fact, we are taking our pledge a step further, by making the CFTC fully refundable. This means that all families will receive the full benefit of the credit regardless of their income level.
For more information on the Children’s Fitness Tax Credit please visit the Canada Revenue Agency website: www.cra-arc.gc.ca
Doubling the CFTC is just one example of how our government puts Canadian families first. Through similar initiatives like the Children’s Arts Tax Credit, the Universal Child Care Benefit, broad-based personal income tax reductions, cutting the GST, and instituting the Tax Free Savings Account, our government is helping all families meet their day-to-day demands and save for the future.
Initiatives like these help more Canadians get in the game, and that’s a great thing for all of us.
