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Since 2019, parents no longer have to pay an additional contribution when filing their income tax return. However, child care costs can represent significant amounts in your budget. You have the option, though, of deducting part of these costs.

A matter of income

If you have dependent children under the age of 16 for whom you pay child care expenses, you may be able to claim this deduction at the federal level.

  • The amount of the deduction will be determined by the lesser of the following amounts: the fees paid, 2/3 of earned income or a maximum of $8,000 for children under the age of 7, and $5,000 for children from 7 to 16 years old.
  • A person whose compensation is paid exclusively in the form of dividends will not be able to claim this deduction, because dividends are not part of earned income.
  • The parent with the lower income can claim this amount.

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Other tax measures…

Find more information about them in the tax deduction checklist.
Contact your advisor, who can provide you with more details and even set up personalized tax strategies to meet your more complex needs.

Anik Bougie

Anik Bougie,
LL.M. Fisc., F. Pl., TEP
Practice Leader, Financial Planning and Taxation

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