Government benefits for parents in Canada
Oct 2021 – 15 min read
If you’re starting a family, there’s a lot of short-term budgeting and long-term planning to consider.
There are tax credits and benefits for parents and caregivers that can help with the cost of raising a family.
You can apply to the Government to receive some benefits, while others can be claimed on your tax return.
Around the time of welcoming a new babyOpens a new website in a new window - Opens in a new window, many parents will open a Registered Education Savings Plan (RESP). Registered with the Government of Canada, an RESP can help you save for your child’s education, and access other savings incentives such as the Canada Learning Bond and the Canada Education Savings Grant (CESG).
How to claim child tax credits
For some childcare benefits, you either apply to receive them or you’ll receive them automatically depending on your circumstances. For others, you’ll need to claim these deductions and credits when filling in your tax return:
Line 30499 – 30500 - Canada caregiver amount for infirm children under the age of 18 - You may be able to make a claim if you supported an eligible dependent under the age of 18 with a physical or mental impairment.
Line 31300 – Adoption expenses – You can claim eligible adoption expenses if the child was under 18 at the time of adoption. The maximum for each child is $16, 563.
Lines 33099 and 33199 – Eligible medical expenses - There may be medical expenses that you can claim relating to pregnancy and childbirth, as well as treatments and medical services for babies and children.
There’s a lot to think about when it comes to starting a family and there are ways to make the most of your tax benefits and credits to help financially.
The information provided is based on current laws, regulations and other rules applicable to Canadian residents. It is accurate to the best of our knowledge as of the date of publication. Rules and their interpretation may change, affecting the accuracy of the information. The information provided is general in nature, and should not be relied upon as a substitute for advice in any specific situation. For specific situations, advice should be obtained from the appropriate legal, accounting, tax or other professional advisors.