got the following information from the CRA, and just wish to share with those mom that have child under 18....
Effective July 1, 2007, you are able to claim a new non-refundable tax credit of $2,000 for each child under 18 years of age at the end of 2007. This credit was announced in the March 2007 Federal Budget.
If you are claiming this amount, provide the information in the Notice below to payroll department to decrease the amount of tax deducted at source.
Note: The information provided in the Notice below is for illustration purposes only; overwrite with your personal information, including the number of children and the total Child Amount (number of children x $2,000), and forward the Notice to your employer.
Eligibility criteria for the Child amount – If a child born in 1990 or later resides with both parents throughout the year, either parent (but not both) may claim $2,000 per child. Any unused portion can be transferred to that parent's spouse or common-law partner. If the child does not reside with both parents throughout the year, the parent who is entitled to claim the amount for an eligible dependant can claim the child amount.
If you claim the Child Tax Credit you will no longer be classified on the payroll system as Single Basic, therefore you will have to file a TD1 form each year.
If you do not provide this information, your tax deducted at source will not be reduced. However, you will still be able to claim the child amount when you file your T1 Income Tax and Benefit Return for 2007.
If you are eligible to claim other tax credits that will reduce the amount of tax deducted at source, complete and submit a revised TD1 return. To get form TD1 2007 Personal Tax Credits Return visit http://www.cra-arc.gc.ca/E/pbg/tf/td1/README.html.
發表於 
返回列表
