Currently, there are 3 types of caregiver credits – infirm dependant credit, the caregiver credit, and the family caregiver credit. Starting 2017 and subsequent taxation years, these credits are consolidated into Canada Caregiver Credit (CCC).
The CCC will be based on 2 amounts:
Under certain circumstances, the top-up calculation may be used to maximize the tax credits.
In addition, the new CCC can only be claimed for dependants who are infirm, and the dependants do not have to live with the caregiver, as long as the dependants are depending on the caregiver for support by reason of infirmity.
The credits can be shared between eligible caregivers as long as the credit does not exceed the maximum annual amount for that dependant.
For more information, please contact us @ 604-639-3229 or firstname.lastname@example.org
Note: All information relating to the credits above is available from CRA website.
By Theresa Lo, CPA, CGA
February 13, 2018
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Theresa Lo, CPA
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Burnaby, British Columbia