Children’s Wellness Tax Credit
Wellness is important to Islanders, especially in our children and youth. Knowing that organized activities can be expensive for families, a Children’s Wellness Tax Credit has been created to assist with these costs.
Effective January 1, 2021, Islanders will be able to apply for a non-refundable wellness tax credit of $500. This tax credit is for all families with children under the age of 18 for eligible activities related to their children’s well-being. This amount can be claimed when completing their taxes, beginning in the 2021 tax year.
Receipts should be kept for activities during the year to claim this credit. Eligible activities could include sports, arts, cultural camps and activities for eight-weeks or five consecutive days of activity.
Additional information to assist Islanders in applying for this credit for the 2021 tax year will be available within the coming months.