With the tax filing due April 30, we’ve included some tax deductions for families to notice for the 2016 taxation year.
- Canada Child Benefit: The Canada child benefit is a tax free monthly payment to help eligible families with the cost of raising children.
- Child Care Expenses: If your kids attend a daycare or a child care program, you or your spouse might be able to claim what you spent in 2016.
- Child Disability Benefit: You can qualify for this tax-free benefit if you care for a child under age 18 who is eligible for the disability tax credit.
- Children’s art tax credit: For 2016, claim up to $250 eligible fees for your child’s prescribed program of artistic, cultural, recreational or development activity.
- Children’s fitness tax credit: For 2016, claim up to $500 eligible fees for your child’s prescribed program of physical activity.
- GST/HST sales tax credit: Receive tax-free payments in January, April, July and October if you are eligible.
If you have any questions, please contact us and we can connect you with a tax professional.