10 Kid Centric Tax Deductions And Tips Every Parent Should Know

One of life's major milestones is having your first child. But when you're waking up at 2:00AM to a fussing baby or a scared child telling you there is a monster under their bed, tax planning is probably the last thing on your mind. A Crowe MacKay advisor can explain all of the available tax deductions, tax credits or tax programs that your family is eligible for.

Here are the top 10 tax items that all parents should be aware of:

1. Universal Child Care Benefit ("UCCB")

This taxable benefit is for parents that have children under the age of 18 and is designed to support Canadian families' child care.
In order to receive the UCCB payment:
a) You must live with the child and the child must be under 18;