Taking care of the child is a natural impulse. The law makes it obligatory. Besides, it would be irrational if anyone has the intention to cut and run from the duty.
What Happens if You Don’t Pay Child Support in Canada?- is a weird question apparently to a single parent the same way. But everyone has issues, even after paying child support. But this one is a natural one- Can I claim my own child as a dependent?
Concrete knowledge of almost anything helps the best to attain an effective outcome. And, it doesn’t alter for today’s topic. Therefore, let’s dive into our topic.
Who to Claim as a Dependent?
A dependent relies on another person who provides financial support. When a parent is in charge of the child, they get some benefits if that is defined as the pre-condition to be called child support.
Why should it be a parent’s or a guardian’s concern to have a dependent, and legally? Indeed it comes with advantages. It’s not about getting the benefit, but, in another way, it helps them to manage a family with a friendly and well-off environment. Lets’ know everything with other ‘whats’.
How Can a Child be a Dependent?
There are 4 types of common dependents-
- Children and grandchildren
- Parents and grandparent
- Brother and sisters
- Nieces, nephews, aunts, or uncles
It’s important to provide the child with at least 6 months of support. That includes shelter, food, clothing, etc. Both the conditions should meet to qualify for becoming a dependent.
What qualifies your child as a dependent is roughly based on these 2 criteria.
- The child must be younger than the person who claims. The age limit can be 19 and 24 at the end of the year. The second age limit is permissible if the child attends a college.
- For the “permanently and totally disabled”, there is no age limit.
So, it is certain that answer to the question— Can I claim my own child as a dependent—is Yes. And, that follows some rules with them being qualifying. Sometimes it’s also you to be eligible to some extent mentioned earlier.
Who Can You Claim as a Dependent Other Than Your Child?
The overall fit to be a dependent, the child can be among son, daughter, brother, sister, stepchild, eligible foster child, half-brother, half-sister, adopted child, or their offspring.
In some cases, elderly parents are also considered dependent if their son or daughter has taken care of them. Like regular times, it also provides tax benefits.
To claim parents as dependents, one must provide over half-year support in the respective tax year. There are some criteria and relative calculations to determine the qualification to be dependents.
Therefore, it does not essentially have to be the children to be dependent. Even brothers and sisters from blood relations can also be dependent like the children are with the fundamental constraints.
It is to remember that it is not possible to claim a person dependent who himself claims to have a dependent. It is also a subject to matter if the person takes personal exemption for himself.
Benefits of Claiming a Child as a Dependent
To have dependents, a person gets access to several personal allowances as tax credits. The taxable income will be lower than before. That ultimately reduces the tax amount one should pay, resulting in lower tax liability.
For a single dependent, the tax will be reduced by $2000. The amount or the rate may change every tax year.
Final Words
Every parent wants the betterment of their children. And the state exactly expects so. A successful union is possible after sincerity and caring for a child. It makes individual families together as a nation.
A person may take multiple steps for the same purpose. The ways or approaches can be different. Additionally, some benefits are entertained as a sign of appreciation or a reward or support.
Maybe this article was merely a part of your random section. But, one shouldn’t abstain from knowledge and its utilization. For now, our advice to you is to follow and gain the available offers staying in the ground of law.
One last thing, if a child is married, before claiming them as a dependent, there are certain matters to contemplate, such as if they file a joint return.
