You can claim child care expenses that were incurred for services including payments made to:
- caregivers providing child care services day nursery schools
- daycare centers
- educational institutions for the part of the fees that relate to child care services.
If you incur business investment loss you can deduct 1/2 of the loss from income. The amount of loss you can deduct from your income is called your allowable business investment loss (ABIL).
Canada Child Tax Benefit (CCTB) is a tax-free monthly payment made to eligible families to help them with the cost of raising children under 18 years of age. Also learn how you can save on your tax through RESP.