TORONTO, ONTARIO--(Marketwired - Jul 16, 2013) - As part of BMO Financial Group's ongoing commitment to financial literacy and 'Making Money Make Sense', BMO is releasing a financial tip every day in the summer to help Canadians make the 'BMOst of summer' in 2013.
BMOst of Summer Financial Tip of the Day: Claim tax credits from your children's summer arts and recreation programs.
In recent years, the Canadian government has introduced tax credits based on eligible expenses on your child's registration in artistic, cultural or recreational programs.
"If you sign your kids up for summer activities, keep in mind that program fees could be eligible for tax credits," said Janet Peddigrew, Senior Vice President, BMO Bank of Montreal. "Hold onto applicable program receipts so that you can submit them when you file your taxes in the coming year."
BMO offers a number of products and services that can help Canadians get more out of every dollar they spend this summer. For more details on how to make the 'BMOst of Summer,' drop by a BMO branch or visit www.bmo.com.
About BMO Financial Group
Established in 1817 as Bank of Montreal, BMO Financial Group is a highly-diversified North American financial services organization. With total assets of $555 billion as at April 30, 2013, and more than 46,000 employees, BMO Financial Group provides a broad range of personal and commercial banking, wealth management and investment banking products and solutions.