The reaction has been, of course, very positive. The children's fitness tax credit was introduced in budget 2006, and in 2011 our government committed to doubling the maximum amount that could be claimed under this credit and making the credit refundable. We're now in the fiscal position to fulfill that commitment.
Our government is enhancing the credit by increasing the maximum amount that may be claimed to $1,000 from $500 and by making the credit refundable. The doubling of the maximum amount will be effective for this tax year and subsequent tax years, and the credit will be refundable effective next year and subsequent years.
These proposed amendments, which, as I said, fulfill our commitment, will provide tax relief for Canadian families of about $25 million in fiscal 2014-15 and $35 million annually thereafter.
The fitness tax credit currently provides tax relief to 1.4 million Canadian families who enrol their children in eligible fitness activities. When fully implemented, these enhancements will deliver additional tax relief to about 850,000 families.