Maximize Your Child Care Expenses

by Tax Guy - Burlington Accountant on May 15, 2008 Print This Post Print This Post

The Canada Revenue Agency announced a tax tip for child care expenses on April 8th, 2008.

You may be able to claim child care expenses on your income tax return if your child is cared for at a home or in nursery school, daycare, day camp, boarding school, and day sports schools.  The credit is normally claimed by the lower income earner if the of the parents living together.

If you qualify, the tax credit can be up to $7,000 for children under 7.

To find out more vist the CRA’s release here.

About The Tax Guy...

Dean Paley CGA CFP is a Burlington accountant and financial planner who services individuals and business owners locally, nationally and internationally. Dean has appeared in the National Post, Toronto Star and Metro News.

To find out more, visit Dean's website Dean Paley CGA CFP or connect via Twitter @DeanPaleyCGACFP.

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