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Old 06-08-2014, 09:47 PM
Beachnana Beachnana is offline
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Well the government credit is not $500 you can claim up to $500 tax credit in activity fees, which I believe represents about $ 75 in tax relief, based on a medium level income. I use a Tax program. So I put everything in t4 s etc. And then I add in the daycare. See what the tax benefit is. Then I put in the activity claim,amd see how that effects the bottom line.

I believe there are 2 ways you can work it. Work out an agreed amount based on tax benefit expect the claiming party expects to receive and then split the balance as per agreement. Or, you can pay the proportionate amount agreed upon and then once the claiming party does their income tax work out how much tax refund they received from the section 7 expenses claimed they can reimburse the other party. But that takes co operation and that is not always forthcoming.
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