Back to School: Common Deductions for Students, Part 2

by in Tax Advice Information and Updates
Back to School:  Common Deductions for Students, Part 2
Another common deduction that may apply to students is the child care expense.

You or your spouse or common law partner may have paid for someone to look after your child so one of you can work, study or conduct research. These expenses are deductible only if, at some time in the year, the child was under 16 years old or had a mental or physical impairment.

Generally, only the spouse or common law partner with the lower net income can claim child care expenses. However, the other spouse or common law partner with the higher net income may still be able to claim the child care expenses if their spouse or common-law partner was enrolled in an educational program or if another specific situation applied.

You can claim child care expenses incurred for services provided by caregivers providing child care services, day nursery schools and daycare centres, educational institutions (only for the part of the fees that relate to child care services), day camps and day sports schools where the primary goal of the camp is to care for children and boarding schools, overnight sports schools or camps where lodging is involved.

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Guest Monday, 18 March 2019