Hi
The T2201 if approved by CRA allows a transfer of the child's disability tax credit to a parent. It is a non-refundable credit, so its worth is primarily based on whether you have taxable income each year. The maximum transfer (some of the child's information may reduce this) for a child under 18 is $12,506. The Federal Credit is $12506 X 15 % = $ 1875.90. The Provincial credit would be based on your province of residence.
If you / your spouse are taxable, then yes, then I suggest it is worth the fee to have the form completed.
Christine
Hi
The T2201 if approved by CRA allows a transfer of the child's disability tax credit to a parent. It is a non-refundable credit, so its worth is primarily based on whether you have taxable income each year. The maximum transfer (some of the child's information may reduce this) for a child under 18 is $12,506. The Federal Credit is $12506 X 15 % = $ 1875.90. The Provincial credit would be based on your province of residence.
If you / your spouse are taxable, then yes, then I suggest it is worth the fee to have the form completed.
Christine