Taxation Amendment Act (Promoting Leisure Activities for Youth), 2025
Sponsored by Blais, Stephen · First Reading Ordered for Second Reading
- Creates a new non-refundable tax credit for children's extra-curricular activities in Ontario
- The credit can reduce tax owed by up to $1,000 per year
- Applies to Ontario residents for taxation years ending after December 31, 2024
- Cabinet may make regulations setting rules for administering the credit, including required receipts
- The Act takes effect on the day it receives Royal Assent
- Short title is the Taxation Amendment Act (Promoting Leisure Activities for Youth), 2025