Finance Minister Rod Phillips and Education Minister Stephen Lecce visit a day care to remind parents of new tax credit. Photo courtesy Stephen Lecce/Facebook
If you’re a parent with children, some money could be coming your way.
A new tax credit called the Ontario Childcare Access and Relief from Expenses kicked in this year and will be applied when you file your taxes next spring.
Finance Minister Rod Phillips says it can go against the costs of various childcare services and programs.
“It can be applied to many forms of childcare including day camps but also other kinds of childcare options that parents decide are best for their kids,” says Phillips.
Phillips says the credit could save parents up to 75 per cent of eligible costs.
“It’s a benefit that is particularly focused on low and middle-income families and for that average on Ontario family it’s going to mean about $1,250 back in the pockets of parents.”
The provincial government urging parents to keep their receipts from this summer’s programs to be eligible for the tax rebate.
