Canada’s Tax credit for caregivers

Date: March 24, 2017 Author: ocsco Categories: OCSCO News

By Elizabeth Nykorowytsch Macnab

Ontario Society of Senior Citizens Organizations with countless other organizations and individuals has asked that government recognize the contributions of Canada’s caregivers, starting with some form of tax credit. Tax credits will benefit not only on the carer but could potentially help the care recipients to remain longer in community, helping decrease the burden on the provincial LTC health system. The recent 2017 federal budget’s new Caregiver Credit for 2017 is a step in the right direction.

The Canada Caregiver Credit was included in this budget. The budget proposes to simplify the three types of caregiver tax credits with a new Canada Caregiver Credit for 2017 and beyond.   This amount will be $6,883 and will be income-tested and indexed to inflation.  The dependent will not be required to live with the caregiver in order for the caregiver to claim the new credit.