Tax Credit Helps Those Caring for Aging Parents

If you are looking after your aging mother or father, grandparent, or other related adult, who is dependant upon you due to a mental or physical infirmity, you should be aware that the Caregiver Amount, first introduced in 1998, can help you.

The Amount is available if you provide in home care for parents or grandparents who are age 65 before the end of the tax year, who live with you, and whose net income, calculated per individual, is no greater than $13,853. There is no need to show mental or physical infirmity in this case.

The Amount is also claimable for dependent adults between the ages of 18 and 65, however, in this case, the dependency must be due to mental or physical infirmity.

The maximum credit is $2353. No claim is allowed if the dependent lives in a nursing home.

The tax department has provided a separate Worksheet upon which to make the calculations for this credit. Then the claim is made on Schedule 5. This filing method is new for this filing year, so be sure to double check that all amounts are transferred to the return.