The Budget 2017 has simplified support for caregivers by replacing three existing tax credits: Infirm Dependant, Caregiver Credit, Family Caregiver Tax Credit, with a new generous Canada Caregiver Credit.
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It will provide for a non-refundable tax credit to individuals caring for dependent relatives with infirmities (including persons with disabilities). The credit will be more accessible and extend tax relief to more caregivers – particularly those Canadians who provide care to dependant relatives who do not live with their caregivers.
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Proposed New Credit: Canada Caregiver Credit
Income Phase-Out Range: $16,163 - $23,046
Maximum Credit Amount: $6,883 (spouses/common-law partners and minor children: $2,150)
It will replace the following three credits:
- Infirm Dependant Credit - Income Phase-Out Range: $6,902-$13,785 & Maximum Credit Amount: $6,8832.
- Caregiver Credit - Income Phase-Out Range: $16,163-$20,895 (for persons with infirmities/disabilities: $16,163-$23,045) & Maximum Credit Amount: $4,732 (if infirm $6,882)
- Family Caregiver Tax Credit - Income Phase-Out Range: variable & Maximum Credit Amount: $2,150
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For more tax advice visit our website
www.familiesmattercoop.ca
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