There is a new report that those of you in Canada will find valuable for the 2016 tax year. You can see this report in Find Report and All Reports: CRA: Children’s Tax Credit Receipts.
The Canada Revenue Agency (CRA) gives a tax credit for children’s Art and Fitness activities. Our Canadian customers need to provide a Tax Receipt for every student that paid for registration or membership for qualifying programs.
The user can indicate which fees qualify for the tax credit by selecting Category 1, Classes, and/or Transaction Types (typically Tuition and Registration Fees).
The user has control over what is printed on the receipt:
- They can choose to have ‘Category1’ or ‘Class Names’ listed as the eligible program
- An authorized signature can be added to the receipt
Receipts can be generated for a group of Students, a single family, or a single student.
- This report is only visible to Canadian organizations.
- It is controlled by the Statements – Email permission.
- Users can find it in the new Reports menu (Reports > Find Reports) in the Families/Students section (on the ‘Students’ tab), the Transactions/Financials section (on the ‘All’ tab) or by searching for ‘CRA’ or ’Receipts’
The preview page lets the user select whether they want to email or print the tax receipt.
Please take note of these very important considerations when running the Children’s Fitness Tax Credit Receipt:
- A student name MUST be attached to the fee for it to be picked up
- A Family FIXED FEE tuition will NOT be included because there is no student name attached to it.
- A Student FIXED FEE tuition WILL be included as the name is attached to the fee.
- Linking errors WILL affect the receipt. The only payments that will be included in the receipt are those that are linked to transactions that match the selected criteria AND have a student name attached.
Search Criteria Example:
Tax Receipt Example: