Taxes after having a child
Jul 23rd 2013, 11:19 pm
#1
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Joined: Jun 2012
Location: Vancouver, BC
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Taxes after having a child
So does anything change in terms of how much in tax you pay once you have a child? More? Less? Any kind of deductions, etc.?
Jul 23rd 2013, 11:36 pm
#2
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,683
Re: Taxes after having a child
You can claim an extra credit on your tax return that will save you about $430 a year. You can also claim Universal Child Care Benefit of $100 a month and Child Tax Benefit. The CCTB is means tested and is based on family income in the preceeding years.
Jul 24th 2013, 1:20 am
#3
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Location: Vancouver, BC
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Re: Taxes after having a child
Thank you. I will look into these!
