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can you defer using your credit for having dependants (children) to another tax year?
I am Canadian so of course I would like answers that follow the CRA please.
I had little income this year and expect to have more income next year, can I use the deductions next year instead of this year?
thank you
2 Answers
- Fred SLv 78 years agoFavorite Answer
No. They're called "Non-Refundable Tax Credits" because they're non-refundable and non-transferable.
You get an amount for dependents each year, but you can't accumulate them (the credits, that is, not the dependents).
- 8 years ago
Credits for dependants incurred in the year can only be claimed in the same year. These credits include the eligible dependant amount, child amount, child care expenses, sports and arts credits, tuition transfers, and medical expenses.
Only credits that can be deferred to a future year are interest on student loans and donations both of which can be claimed within a 5 year period.
