WHITEHORSE—An amendment to the Income Tax Act that will establish a tax credit for parents or guardians of children involved in music, arts, cultural activities or tutoring has been introduced in the Yukon Legislative Assembly.
“This tax amendment is part of the Yukon government’s ongoing efforts to build on its history of establishing tax credits to assist Yukoners,” Premier and Minister of Finance Darrell Pasloski said. “This initiative will put more money in the pockets of Yukoners and allow them to make their own decisions on how to best educate their children in the arts.”
The Children’s Arts Tax Credit allows Yukon parents to claim a credit of up to $500 in eligible expenses per child per year. The benefit doubles for families with children who have a disability. Eligible activities include music, literary, visual and performing arts, courses in media, languages, customs and heritage, as well as activities that provide enrichment or tutoring in academic subjects.
“All these activities help children grow, flourish and enhance their educational experience,” Pasloski added.