If you’re a parent with children, some money could be coming your way.
Finance Minister Rod Phillips says a new tax credit called the Ontario Childcare Access and Relief from Expenses will be applied when you file your next tax return.
The credit can be applied to such things as day camps, summer camps and childcare.
Phillips says “It’s a benefit that is particularly focused on low and middle income families and for that average Ontario family, it’s going to mean about $1,250 back into the pockets of parents.”
He notes the credit could save parents up to 75% of eligible costs.
Education Minister Stephen Lecce says “Institutional childcare isn’t the only option for a lot of parents in the province of Ontario. So providing that flexibility and that recognition that you as a parent know best how to raise your child, I think first and foremost is the government listening to the people we serve.”
Save your receipts from day camp & summer camp this year. Thanks to the new Ontario Childcare Access & Relief from Expenses (CARE) tax credit, parents could save up to 75% of their eligible child care expenses for a wide range of options, including care in centres, homes & camps pic.twitter.com/j4OmBwfJLq
— Greg Rickford (@GregRickford) August 28, 2019
