News Article

Missing in Action: Tax Credit For Minor Children

Posted: April 26, 2017 VIA: Knowledge Bureau
Posted in: Strategic Thinking, Current Issue

Something’s been missing on your tax return since 2015 and that’s the non-refundable tax credit for minor children. It was canceled in favor of the enhanced Universal Child Care Benefit and the new Family Tax Cut. Both those provisions have since been canceled in favor of the new Canada Child Benefit.

The tax credit for minor children was originally introduced in 2007 and was $2,255 in 2014, roughly equal to tax relief of just under $340 per child. If you missed claiming it on your return in past years, you can go back to 2007 and correct your omission.

But there is at least some good news: a Family Caregiver Amount is available if your minor child is infirm. A child is considered infirm only if he or she is likely to be, for a long and continuous period of indefinite duration, dependent on others for significantly more assistance in attending to their personal needs and care when compared generally to other children of the same age.

If you are unclear whether your child will qualify, be sure to see a tax specialist.

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