Unfortunately, you cannot write it off against your employed income. However, you can use it to reduce and offset your capital gains. If the amount that you lost is greater than the amount that you made in capital gains for that taxation year, you willhave to carry the loss to another tax year.
No, you cannot. Canada Revenue Agency allows the child care expense claim to be allowed only to the spouse with the lower income. There are some slight exceptions however. Speak to one of our agents for details.
No, you cannot. The only legally deductible child support payments need to be court ordered. Meaning you need to have an official court document stating the amount that needs to be paid to your ex-wife.
Absolutely. As long as the babysitter is not related to you. Make sure you get receipts and the SIN # as well.
Essentially, the disability tax credit is a credit given to reduce your income based on your medical condition. This credit is not given out too freely. There is a specific form that needs to be filled out from your doctor confirming that the nature of your disability prevents you from your day to day living. The form is called a T2201. We can take care of this entire process for you from the initial application to the actual deduction in the relevant tax year.
Whatever the entire amount withdrawn, is the amount that needs to be payed back to your RRSP account within a 15 year time period. This re-payment starts the 2nd year after the withdrawal. You will be notified on what the amount per year is on your notice of assessment. If you miss a year and do not make the repayment, the minimum amount will be added to your income.