If you’re helping your clients complete Form YT428 for Yukon taxes, you might be able to help them save money by claiming the Yukon Children’s Art Credit on line 5841. This credit lets your client claim up to $500 per child for fees paid to register the child in a prescribed artistic, cultural, or recreational program. Your client’s child must be under 16 years old. If the child is disabled, your client could be eligible to receive an additional $500.
To get the tax credit, your client has to have paid for a specific program. This program must have been ongoing (at least eight weeks or at least five consecutive days). The program has to develop creative skills or artistic abilities, provide a focus on wilderness or nature, or help develop intellectual skills. The program is also eligible if it helps your client’s child interact with other children. Your clients can claim any amount up to $500 that has not already been reimbursed. Alternatively, your client can claim the entire amount of the program if any amounts that have been reimbursed are included in their income.
Only your clients living in Yukon can claim this credit. Anyone receiving income from within Yukon but not living within the territory is ineligible. When preparing your client’s return, don’t send in any supporting documentation. Instead, keep the records on hand in case the Government of Canada asks to see proof later. By meeting the requirements above and filing correctly, you can help your Yukon clients get a tax credit worth up to $500.