Tax Credits for Families

Having a family is exciting, rewarding, and expensive. Here are some things to be aware of to help your money go further.

The Canada Child Tax Benefit (CCTB) is intended to help families with costs associated with raising children. It’s tax-free and paid every month from the Federal Government. Your monthly payment depends on the number of children you have. You can apply to receive the CCTB online.


The Universal Child Care Benefit is a monthly payment of $100 per child under the age of six. These payments are taxable, but don’t affect eligibility for other government income-dependent programs.


The Child Disability Benefit is an additional benefit and paid out as part of the CCTB.


The government started this credit as a way to encourage families to be active and stay healthy. There are a lot of stipulations around the credit, so be sure to get a receipt from the organization your kids are signed up for the get the full benefit of the credit.


This credit has a number of guidelines around it as well, but it essentially gives you a credit for using buses, streetcars, subways, and commuter trains. Be sure to keep your receipts!


Child care expenses can be claimed if your kids go to daycare while you work or attend school. The amount you can claim varies depending on the age of your kids to an annual maximum.


Fees paid to a day nursery or camp may qualify as a child care expense if your child attended while you were going to work or school. For older children, post-secondary tuition fees may be claimed by the student or there may be an option to transfer amounts to their parent or grandparent.


RESPs are the best way to save for your children’s post secondary education. Contributions are not deductible, but the income earned is not taxed until it’s withdrawn in your child’s name. The government also kicks in extra to a maximum per year per child. Remember, the deadline is December 31.


Your basic GST/HST credit is increased for each child you have. Be sure to take advantage of all of these tax-related savings!

Libro Financial Group
Beechwood 420 Erb St., Waterloo 519.725.6060
Williamsburg 170 Fischer Hallman Rd., Kitchener 519.570.9955
Waterloo North 55 Northfield Dr. E., Waterloo 519.744.1031
1.800.361.8222 www.libro.caContact a Financial Planner:
Scott Macleod
Chris White


Jennifer McCallum

Thank you so much for stopping by this page to get to know a bit more about me and why I started Parent Guide Inc. My business story started a way back in 2001... …after the birth of my first daughter, I realized that an "all-in-one" resource guide for parents was needed, and fast! I designed the New Parent Resource Guide to fill a gap in the community for busy parents like myself. The New Parent Resource Guide offers an A-Z of key contacts for parents, caregivers, service providers, and health care professionals.  Working with key businesses and organizations in the community, we have also compiled much-needed articles, tips, and charts to answer all your parenting questions. The latest addition to our family is the School Age Resource Guide to serve parents of children, 3 to 18 years!  This guide answers questions about: nutrition, bullying, curriculum, building self-esteem, and much more, as well as offering a full directory of local and national resources. The website offers an “all-in-one” spot for parents to connect, add their own blog, and find needed resources in their community.  It is a site that educates and entertains and if you can't find somthing just ASK me. I am here to serve YOU!  My hope is that you connect with our members, find comfort in their words, and share your own story. My goal is to see what I can do to help make life a bit easier for you.   You are why I do what I do! I can’t wait to get to know you!  Comment below to tell me about yourself – then start blogging so we can find out what makes you get up in the morning!  Check out my blog too and I am sure you will be surprised what gets me out of bed each day!!! Jennifer -  Mom and Publisher

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