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Will I get credit for my son and wife, if I supporting them?

 
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Will I get credit for my son and wife, if I supporting them?

As per the Canada Revenue Agency (CRA): You can claim the spousal amount, at any time in the year, if you supported your spouse at any time during the year. The maximum amount in which you can claim changes every year and is reduced by your partner’s income. You can get more information from the site of Spouse or common-law partner amount 

 

As per the Canada Revenue Agency (CRA): You can also claim Canada caregiver credit if you support your child because of physical or mental impairment. Otherwise, if your child is healthy, you cannot claim Canada caregiver credit.  You can get more information from the site of Everything You Need to Know About the Canada Caregiver Credit (CCC).

 

As per the Canada Revenue Agency (CRA): If you support your child or your wife for their tuition expenses, they may transfer their tuition tax credit to you. They may transfer a maximum of $5,000 of the current year’s federal tuition amount, and where available, the applicable maximum for provincial and territorial tuition, education, and textbook amounts, minus the amount they used to reduce their tax owing. you can visit the website of Transfer or carry forward amount

for more information.

If you specify which tax credits that you want to deduct, please contact us again and we can inform you of specific tax credits and their implications.