An Event can be configured to allow parents to Defer a Registration for another Season. You will need to configure the event to allow Deferrals which will make the Defer Button visible on the Parent Profile Page under Event Registrations.
To setup Deferrals follow these steps:
Go to Events in Dashboard
Select the Event you want to allow for Deferrals
Move to Options tab
Check the Allow Deferrals Box
You can give it a Deferral Fee if you wish to charge for the deferral
You can give it a date that you will no longer allow Deferrals - If a date is not entered then the event start date will be the default end date.
Click Save
Parents will now see the Defer Button on their Profile Page for the events they can Defer.