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Government contributions to childcare costs.
In Canada, only licensed childcare is eligible for government subsidies. Childcare subsidies are difficult to obtain and depend on a number of other variables, such as your family's income. Therefore government aid is not available for babysitting, which is more often used an occasional for of childcare and tends to be the least expensive among the different types of childcare.
Fortunately there are still some ways to benefit from government assistance and tax breaks on your childcare expenses, which you can read about the in the sections below.
Canada Child Tax Benefit (CCTB)
The CCTB is a monthly tax free payment paid to families in order to assist with the costs of childcare. The base amount is $120.50 per month but you can receive more if you have more children or less if your family's income exceeds $43 953 annually.
The CCTB may also included the National child benefit supplement for low-income families or the Child disability benefit . You can read more using the links provided.
Other variables can influence the amount you receive each month, for example, in Alberta, the amount of the benefits depends on the age of the child or children. Also by applying for the CCTB you will be applied for any eligible provincial/territorial benefits. If you are eligible, the amount with automatically be added on your CCTB payments.
Universal Child Care Benefit (UCCB)
If you're already receiving the CCTB; you will not need to apply for the UCCB. To be eligible for the UCCB your child must be under the age of 6. You must live with the child and be his primary guardian. The benefit is currently $100 per month per child.
Declaring your childcare expenses.
Keep your receipts! Yes you can declare your babysitting expenses when you file your taxes. It might seem like a lot of hassle but it's worth it. Besides babysitting receipt don't have to been fancy, just make sure you keep track of all the dates and hours and payments to your sitter.
Lastly, make sure to get your sitter's social insurance number which you will need when declaring. She should also be reporting her earnings.
