If you pay for your child to go to daycare, or for a nanny to look after them while you go to work or school, you may be able to claim child care expenses on your personal income tax return. The deduction is available to children up to the age of 16, and each child must meet CRA’s definition of an “eligible child”. Here are five things to know about claiming child care expenses this tax season:
Are you an independent contractor, or an employee? And, are you sure of this?
Knowing the difference is essential – it can have a negative financial impact on your Canadian income tax if you think you’re a contractor, but the Canada Revenue Agency determines that you are actually an employee. Read on to learn more