Caregiver tax credit

Canadian tax credit for caregivers

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The Caregiver Tax Credit (CTC) is a tax credit available in Canada to individuals who provide in-home support for a relative who is a dependent, is over 18 and resides with the supporting relative in his/her residence at some time in the year.[1] It is found on line 315 of the Canadian federal tax return.

The dependent must be a child, grandchild, brother, sister, niece, nephew, aunt, uncle, parent or grandparent. The caregiver credit is not applicable unless at some time in the year the dependent resides with the person taking the credit. Families using a Henson trust, the Canada Disability Child Benefit other estate planning methods for children with disabilities are not excluded from the DTC .

## Benefits

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As of 2012, the CTC was worth approximately $600 in annual tax saving. it could be retroactively filed for 10 years which can result in an overall tax savings of approximately $5,000. The CTC erodes dollar-for-dollar if the dependent's income exceeds $13,986 and becomes completely if it tops the $17,745 threshold. The tax payer cannot claim both the caregiver tax credit and the amount for an infirm dependent 18 or over.

## References

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1. ^ "Line 315 - Caregiver amount". Retrieved 21 June 2013.

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Income taxes in Canada

General|

* Income taxes in Canada
* Corporate income taxes
* Income Tax Act

Major tax credits and benefits|

* Age amount
* Basic personal amount
* Canada Child Benefit (CCB)
* Canada Employment Credit (CEC)
* Canada workers benefit (CWB)
* Caregiver tax credit (CTC)
* Child Disability Benefit (CDB)
* Climate action incentive (CAI)
* Disability Tax Credit (DTC)
* Investment Tax Credit (ITC)
* Labour-sponsored funds tax credit

Major deductions and incentives|

* Capital Cost Allowance (CCA)
* RRSP deduction
* Scientific Research and Experimental Development (SR&ED)

Eliminated|

| Childcare|

* Canada Child Tax Benefit (CCTB)
* Child Tax Benefit (CTB)
* Children’s art tax credit
* Children’s fitness tax credit
* Universal child care benefit (UCCB)
* Working Income Supplement (WIS)

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Others|

* Education Tax Credit (ETC)
* Public Transit Tax Credit (PTTC)
* Textbook Tax Credit (TTC)
* Workers Income Tax Benefit (WITB)

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