Quote:
Originally Posted by Sylvanfan
Technically you're being subsidized by all these people who don't go. Plus these places would all up their fees to $1500 a year and claim it costs you nothing since you can get a tax credit.
|
Not quite. Correct me if I am wrong, but a tax credit simply subtracts from your taxable earnings. So, you would not get $1500 back, only the tax you paid on that $1500. And, given this is a provincial initiative, not a federal one, the return you would get is that 10% flat tax, so, up to $150.
I would definitely take advantage - especially if things like our softball league were to count (unlikely since it isn't NSA/CSA, etc approved), but we're not talking about Ralph Bucks here.