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How much is the dependant tax credit worth?

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  • How much is the dependant tax credit worth?

    This is more of a tax question than a family law question. When my ex claims the 2 children as dependents on her taxes (because my a-hole lawyer neglected to ask the court for an order to allow this claim to be alternated), approximately/ballpark how much money is she getting from that? If there are no daycare, tuition, or medical expenses to speak of, is there still a dependent tax credit?

  • #2
    Yes and she can only claim one and its about $11,000 on line 305 I believe.

    It simply goes toward reducing their taxable income. If your ex makes a lot of money it helps. If they make less than a lot it helps a little less.

    I did my mothers taxes growing up and since her annual income was 30g, it helped her get just a little bit back.

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    • #3
      OK, I'm looking at Schedule 5 now. The base amount is $11,800. A tax credit of $11,800 translates into about $2k at a 19% marginal tax rate.

      The line 305 section of Schedule 5 only has fields for 1 dependent, suggesting that you are correct in that she can only claim one.

      However, if I understand thing 5 on the H&R Block website correctly, I can claim the other one! I'm that much happier with my lawyer now.

      Grr, I guess I have to coordinate with the ex who will claim whom. (?)

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      • #4
        Many men have problems with CRA being able to claim a child as a dependent if it's listed in their Court Orders/Separation Agreements that they pay child support.

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        • #5
          For me, about 2k.

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          • #6
            The first time I filed my taxes as a single mom I was so astounded by the increase I thought I must be doing something wrong. I could claim the full childcare amount AND the full dependent amount, which I'd never been able to do before.

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            • #7
              If you make child support payments for a child and the other parent does not, you cannot claim an amount for an eligible dependant for that child. Only the parent who does not pay child support can claim the amount for an eligible dependant on line 305 of Schedule 1 for that child.

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