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Old 10-17-2019, 09:39 AM
rockscan rockscan is offline
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Join Date: Mar 2014
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Normally the person with custody is allowed to claim all tax benefits. Any benefits that reduce the cost of an expense are to be subtracted from the expense.

Example: your ex can claim the eligible dependent credit as the child lives with her. If she claims daycare costs, she would be able to claim daycare on her taxes. Lets say the annual cost is $5000 and she receives a $300 tax benefit. You would split the $4700 cost rather than the $5000.

The eligible dependent credit can be split for shared physical custody and you have to have it in your agreement. Some people on here have wording that says something like dad will claim the credit in even numbered years and mom in odd years. As CRA does not accept it without something in the agreement. You can search the forum for that.
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