What We Do for our Clients

Read here for some great tax tips and examples about how we've helped our clients to make their lives easier or save them money. Visit our web page at http://www.painfreetaxes.ca/ for more information.

If you have ever been frustrated by bad service you will understand why we make treating you how we want to be treated a priority!

Our Tax Preparation services are available Canada Wide through Web Services and in person. Appointments for Office Visits and Mobile Services are available in Victoria BC and surrounding.



Saturday 18 January 2014

Do You Know the Difference Between Camp and Daycamp Expenses? - Frequently Missed Child Expenses

In the midst of a proposed school strike, people are signing their children up for Day-camps at local Recreation Centres. Also a co-worker was doing early registration for her child's summer camp. It's come up quite a bit that these ARE considered valid Childcare Expenses and are frequently overlooked.


Because of the word "Camp" people often doing think of these as "Daycare" but as far as your taxes are concerned, they still are valid expenses for Childcare.

Even though both use the word "Camp" they are treated differently for your taxes.

A DAY camp is no different than any other daycare expenses. You can claim the full amount subject to the same rules as any other Childcare expenses (as far as maximum claim amounts and the lower income parent has to claim it unless they are a student or have an illness).

A SUMMER or "OVERNIGHT" Camp is subject to a weekly maximum limit of between $100, $175 or $275 depending on the ages of the child and whether or not they have a disability.

If you child was in a "camp" in 2013, don't forget to claim this expense. If you missed claiming this expense in the past, your tax returns can be adjusted for up to 10 years. Most facilities can easily provide replacement receipts on request.

If you use software to prepare your tax return, keep this distinction in mind when preparing your tax return about the word "camp". If you mark the expense as a Camp in the software, it will apply the weekly limits. But unless it was an OVERNIGHT camp you should NOT do this. Any camps that don't have an overnight portion, are not really considered a camp. They are just considered ordinary day care.

Also keep in mind that if your child is in a sports camp, make sure to include this as DAYCARE and NOT as a Fitness expense.


Pain Free Tax & Bookkeeping Service provides free reviews and advice for tax questions about adjustments. If you have any question please contact us at service@painfreetaxes.ca



No comments: