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Eligible dependant tax credit

DID YOU KNOW? The amount for an eligible dependant is a credit that can be claimed on your income tax return. Claiming this credit, however, is not as simple as claiming the other credits available to parents and caregivers for their dependents. In fact, the amount for an eligible dependant is a non-refundable tax credit, available to single adults who do not claim a spouse or common-law partner credit and who are financially responsible for a loved one. Eligibility criteria Single parents and separated parents (i.e., no longer living with the other parent) can claim this credit in certain cases. You may even be eligible to claim this credit for a dependent who is not a minor. To claim the credit, you must live with the dependent in your home. For example, if you’re caring for a dependant, but living in your parents’ or someone else’s home, you can’t claim this credit. Nor can you claim the eligible dependant amount for someone who is only visiting you. Please note! In situations involving shared custody of a child, the credit cannot be split 50% between the parents’ tax returns. Parents will need to work together to determine who will claim the credit in a given year. If no agreement can be reached, the CRA may deny the credit to both parents. For more information, please visit the CRA website or make an appointment with one of our accountants.

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