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Tax Benefits For Parents

ABA, UCCB, CCTB and Other Child Care Programs

Date: February 2014

If you’ve just become parents or are expecting a baby you should know that there are lots of tax benefits you may apply for.

Automated Benefits Application (ABA) – Use this application to claim tax credits and benefits and avoid dealing with lots of papers. All you have to do is to sign Automated Benefits Application when you register your baby’s birth. Your agreement to use the ABA will testify your claim for:

—  the universal child care benefit (UCCB)
—  the Canada child tax benefit (CCTB)
—  other regional child care programs

Below there’s some useful information about the benefits mentioned:

  1. In order to apply for the CCTB you may turn to My Account and choose Apply for child benefits service or fill out Form RC66, Canada Child Benefits Application and send it to the tax centre servicing your area by e-mail.

  2. Universal child care benefit is provided for parents who have a child under age of six. This tax benefit suggests receiving a monthly payment of $100 per child. Once your child is born you have the right to apply for the UCCB.

  3. Canada child tax benefit is paid every month in order to support eligible families that have children under eighteen.

  4. Regional child care programs – Almost every region offers its own child care programs, which mean tax credit and benefit payments for eligible families. You may qualify for these programs in addition to the CCTB and GST/HST credits.

  5. GST and HST credits can be claimed when filling out your tax and benefit return. These credits are intended for families with poor earnings so that they could reduce their GSP and HST taxes.

  6. Child disability benefit (CDB) means tax-free payment claimed by a family raising a child under eighteen entitled to disability amount. People suffering from serious mental or physical disabilities are eligible for a tax credit called disability amount to cut taxes they pay annually.

  7. Working income tax benefit (WITB) – Families receiving poor incomes can apply for this benefit to save on taxes. You are able to claim in your tax declaration (line 453) if you comply with eligibility requirements.

  8. Registered education savings plan (RESP) provides you with possibility to save for your child’s education in higher educational institutions. People who have applied for RESP should sign an agreement, which suggests making certain contributions to the savings account. There are a few great programs offering RESP like Canada learning bond (CLB) or Canada education savings grant (CESG).