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Refundable Tax Credit

Refundable Tax Credits for Childcare Expenses

In Quebec, as long as you meet certain eligibility requirements, preschool tuition is one of the childcare expenses that qualifies for a refundable tax credit when you file your annual income tax. A tax credit reduces the total amount of tax that you pay to the Quebec Government (which results in more money in your pocket). The refundable tax credit rate is set on a scale that corresponds to your family income. Click on the link to view the “Table of Tax Rates for 2014”. http://www.revenuquebec.ca/en/citoyen/credits/credit_enfant/versements/bareme.aspx

To qualify for the refundable tax credit, you must complete Revenu Quebec’s “Schedule C” Tax Credit for Childcare Expenses Form http://www.revenuquebec.ca/documents/en/formulaires/tp/2012-12/TP-1.D.C-V(2012-12).pdf and submit it with your annual income tax return.

Additionally, if you meet certain requirements, you may also be eligible to receive advance payments of the refundable tax credit for childcare expenses and not have to wait until you file your income tax return to claim the tax credit. This requires that you apply in the year preceding your child’s enrolment in preschool. To find out more about advance payments of the Tax Credit for Childcare Expenses please see: http://www.revenuquebec.ca/en/citoyen/credits/credit_enfant/versements/default.aspx