Single parents - You are heros! Managing your jobs or school and raising a child at the same time is a huge responsibility. You are wearing so many hats – employee, child’s educator, entertainer, chef, chauffeur, and come tax time, also a tax preparer.
When filing your taxes there are a few considerations to address:
- You can claim Eligible Dependent tax credit if the child lives with you
- Some tax deductions need to be shared between the parents – only one parent can claim credits such as Canada Tax Benefit, GST portion for the child, child care deduction as well as provincial and territorial credits
- You can claim the child as an additional dependent for the purposes of Canada Workers Benefit
Remember to take advantage of all tax credits applicable to your situation.
And, of course, if you need assistance with your tax filing, remember – Tap.Tap.Done! TaxWellDone
