Nova Scotia to Offer Fitness Tax Credit

[tamtam10]

Nova Scotia will now be offering up to $500 worth of tax credits for enrolling in fitness activities:

http://informedvote.ca/2009/01/nova-scotia-to-offer-fitness-tax-credit/

Is this really a justified use of our tax dollars?

 

[Bruce Monkhouse]

Yes, I have no factual data but from just what I see I believe sedimentary people use up much more per capita of our health dollars than those who stay in shape.

Opinion only.......

 

[chris_log]

Nova Scotia will now be offering up to $500 worth of tax credits for enrolling in fitness activities:

http://informedvote.ca/2009/01/nova-scotia-to-offer-fitness-tax-credit/

Is this really a justified use of our tax dollars?

Yes.

Did you not see the line on how this should amount to significant healthcare savings in the long run?

And further to that, this isn't a 'use' of tax dollars as much as it's returning tax dollars to taxpayers in the form of a tax credit, it just so happens that this is a credit that people actually have to work for.

 

[Sub_Guy]

It sure is!

I have my kids in organized sporting activities and the tax credit (Federal) helps, but I would have them in organized sports even if there was no credit.

This will help out those who are already active and I suspect it will do nothing to motivate those who are not.

 

[Brad Sallows]

A targeted tax credit of this nature is really just social spending.  All dollars in government hands are fungible; it doesn't matter whether government in essence writes the cheque as part of the tax return or sends it in the mail.

Is it to be a refundable or non-refundable tax credit?

 

[Nfld Sapper]

A targeted tax credit of this nature is really just social spending.  All dollars in government hands are fungible; it doesn't matter whether government in essence writes the cheque as part of the tax return or sends it in the mail.

Is it to be a refundable or non-refundable tax credit?

From the Nova Scotia Government Site:

Starting in 2009, the Healthy Living Tax Credit
for sport and recreational activity registration
fees will be extended to all Nova Scotians. The
maximum expenditure per individual will be
$500, encouraging all Nova Scotians to participate
in healthy lifestyles through fitness. Once fully
implemented, the expanded tax credit is expected
to save Nova Scotians over $8 million per year.
The Department of Health Promotion and
Protection will soon be extending the list of
eligible organizations to include those that
provide fitness opportunities for adults.


And would appear under:

Personal tax credits

Similar to federal deductions, gross provincial taxable income amount can be reduced by a number of non-refundable tax credits, if the individual qualifies.

 

[Redeye]

A targeted tax credit of this nature is really just social spending.  All dollars in government hands are fungible; it doesn't matter whether government in essence writes the cheque as part of the tax return or sends it in the mail.

Is it to be a refundable or non-refundable tax credit?

I can't see it being a refundable credit.

 

[Nfld Sapper]

I can't see it being a refundable credit.

psst.... points to post above yours.

 

[Brad Sallows]

>Similar to federal deductions, gross provincial taxable income amount can be reduced by a number of non-refundable tax credits, if the individual qualifies.

That reads to me as if the tax credit will be non-refundable.  That would mean the government subsidizes your fitness if you are a tax payer.  If you are not a tax payer, you would receive no additional advantage.

 

[Nfld Sapper]

And from deeper within that website:

How much can I expect to be deducted on my income tax?
This is a tax credit not a tax rebate. A tax credit is a reduction against income tax that would otherwise be payable

 

[JVJA]

My intention was not to argue how much of the OP's tax dollars are going directly to Nova Scotia but to point out since there is a Federal equalization program in place, in essence, we are all indirectly paying for provincial government funded programs and tax incentives in the so called have-not provinces also.

http://tinyurl.com/a2ww7t
http://tinyurl.com/9zw9qz


Edit : spelling

 

[Michael OLeary]

Unnecessary tangent removed by request of one participant.

Milnet.ca Saff

 

[ModlrMike]

Nova Scotia will now be offering up to $500 worth of tax credits for enrolling in fitness activities:

http://informedvote.ca/2009/01/nova-scotia-to-offer-fitness-tax-credit/

Is this really a justified use of our tax dollars?

Yes, I think it is. I've seen too many people in my emerg dept who's unhealthy life choices cost the system hundreds of thousands of dollars.

 

[Marshall]

While this is a good idea (and a good start). I can not see this lowering the percentage of 'unhealthy' people by anything much.

Most (but not all of course) people will not go out for runs, do push-ups, etc that are FREE to begin with. Why would they go through the process of this, just to "waste" time that they could be doing whatever they usually do (I have never been in any professional fitness programs or healthy living programs, but aren't they a little time consuming for the average adult? )

I only see this helping people who desire to become physically fit but have had a problem with motivation. Or to help a person who may have a limited income and can not afford such a program.

Just my 2 cents.

 

[Brad Sallows]

$500 isn't the maximum of the non-refundable amount; it's the maximum claim amount for which the refundable amount may be calculated.  If the "Non-refundable tax credit rate" of 8.79% from the NS428 form applies, the value of the credit is a maximum of $43.95.

Now, really: how many people do you think have been holding back from fitness activities because the price is 10% too high?  I suppose this credit will simply amount to a gift to people who already pay for fitness activities.

 

[Infanteer]

"Here's 43 bucks, now go order yourself some pizza"

Doh!

 

[tamtam10]

Most of you seem to like the idea of a fitness tax credit and feel it is justified. But would such an initiative actually increase people's health? In other words, does it provide a big enough incentive for people who are not enrolled in any fitness activities to actually enroll, or does it simply just give people who are already enrolled a credit without doing much to stimulate further registration among other people.

 

[George Wallace]

Those who are dedicated to keeping a healthy lifestyle will benefit from such an incentive.  Those who don't, won't.  It may be an incentive that those who are "sitting on the fence" may take to improve their lifestyle, and also benefit from a Tax Credit. 

Will we see much change in the way that Nova Scotians 'live'?  Not really that much initially, but it may start a very slow process that will see benefits to the Health Care System with fewer people coming in for weight and stress related problems.  Think of how the "Seatbelt Laws" and "No Smoking Regulations" have progressed and look at the slow rate that it took for them to gain acceptance and provide improvements.

 

[PMedMoe]

I'm still trying to figure out if it's a "credit" or merely a reimbursement for any fitness program.  ???

For example, it costs $200.00 to join XandY gym, I pay, submit the receipt on my tax return and get the $200.00 back (or deducted).

Is that the gist of it?

 

[geo]

It's a tax credit.....
you pay the 200$
if your nominal provincial tax rate is 25%.... then you would get something like 25% of it back at tax return time.....