New Tax Credit Eases Caregiver Expenses

By News Canada


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Although being a caregiver to a loved one at home can be a rewarding and enriching experience, it can also be a serious challenge for any family—particularly financially.

In 2007, Statistics Canada estimated that more than 2.7 million Canadians were providing eldercare to a friend or family member. Though some caregivers provide all of the support themselves, more than half of them also worked outside the home.

To ease some of the financial strain on families, the federal government recently announced a new family caregiver tax credit (cra.gc.ca/familycaregiver).This credit provides an additional amount of up to $2,000 for each of the following non-refundable tax credits:

• spouse or common-law partner amount;

• amount for an eligible dependant;

• amount for children born in 1995 or later;

• amount for infirm dependants aged 18 or older;

• caregiver amount.

Although no tax credit can help caregivers be in two places at one time, and it does little to ease the demands of caring for a loved one on a day-to-day basis, still the tax breaks are welcome and available.

www.newscanada.com

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Comments

Showing 1 to 2 of 2 comments.

My 84 year old mom had knee surgery and I stayed with her in her home, continuously, for six (6) weeks, looking after her every need, such as, food preparation, housecleaning, personal care, excerising her knee 3-4 times a day, every day, pain management, etc. I slept on her couch and was available to her 24/7. Is there a place on form for a deduction.

Posted by Lydia Cyr | March 4, 2014 Report Violation

OUR DAUGHTER IS HELPING MY WIFE AND MYSELF WITH DUTIES, CAN WE RECEIVE A TAX CREDIT BY PAYING HER FOR HER HELP, I.E. SHOPPING TAKING US TO THE DR'S OFFICE AND OTHER DUTIES?

Posted by IVAN CANTOR | February 6, 2013 Report Violation

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