The Federal Tax Credits Blog

Posts Tagged ‘child tax credits new baby’

Question: A question for Canadian tax pro’s! New baby and single!?

My daughter was born in October and either me or my ex is going to claim her on our taxes. We still get along great and he even stays with us from time to time. He is a great and supportive daddy and is always there for us and does his best to make sure we have everything we need, We are in the process of trying to work things out but for now it is purely platonic and we are just friends. I was thinking of allowing him to claim her this year and next year I claim her and so on and such forth. My only issue is that I claim her for child tax credit and the Universal benifit as well and get monthly payments from them for her. Will this be an issue if he claims her this year? Is this even allowed? We are not common law or anything at this point so I don’t know if they would make a big stink about that either. Please as much advice and knowledge you can give would be greatly appreciated!!

Answer: Because the child lived with you during the year, the father is not eligible to claim the credit. However, if you want him to receive the benefit of the claim, you can just write him a cheque for $305.70 as this is the amount that he would have saved on his taxes if he were eligible to make the claim.

You should also be claiming the “amount for an eligible dependent” tax credit from line 305 on schedule 1.

It should also be pointed out that in order to get any benefit from these tax credits your taxable income for 2008 has to be more than $9,600, otherwise your income will be too low to be able to make use of the credits.

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My name is Charles Donovan. I am Senior Research Fellow at The Heritage Foundation. The views I express in this testimony are my own and should not be construed as representing any official position of The Heritage Foundation.

China’s One-Child Policy Comes To Western Countries

Question: Question about childcare element of child tax credits in the UK?

Lone parent on a salary of £14000

Registered childcare of £150 per week paid to childminder

What percentage of my childcare costs would be paid by the childcare element of the child tax credits in the UK?

I have heard it would be 80% but I would like some informed opinions.

What would this percentage be if my childcare costs were reduced to £100 per week.

Any assistance appreciated!

Answer: Ring up the tax credits and ask them as everyones entitlement is different.

Use all your tax credits or you’re going to lose them

Credit is pretty tough to come by these days — unless it’s tax credits. There are more tax credits available this year than ever before; more than 25 of them.