Family & Child Tax Benefits Planning
Optimize Your Family Tax Benefits & Maximize Government Support
Raising a family in Canada can be expensive, but the Canada Revenue Agency (CRA) offers tax credits, deductions, and benefits to help parents and guardians manage child-related expenses. Understanding how to properly claim these benefits, optimize income splitting, and reduce your tax liability can result in thousands of dollars in tax savings each year.
At Westview Accounting & Tax Services Inc., we specialize in family tax planning for North Vancouver residents, ensuring that families receive maximum tax refunds and government benefits while minimizing tax obligations.
What Family & Child Tax Benefits Are Available?
Canada Child Benefit (CCB) - RC66
A tax-free monthly payment to help families with the cost of raising children under 18.
Payment amount depends on family income and number of children.
Automatically assessed when you file your T1 tax return, but new parents must apply using RC66.
Child Care Deduction - T778
Parents can deduct daycare, babysitting, and after-school care costs if required for work, school, or business.
The deduction is claimed by the lower-income parent unless there are special circumstances.
Canada Workers Benefit (CWB)
A refundable tax credit for low-income families to supplement earnings.
Parents with children may receive an additional amount.
Canada Dental Benefit (CDB)
Available for children under 12 in families with income under $90,000.
Covers dental costs for uninsured children.
Child Disability Benefit (CDB)
A tax-free monthly benefit for families caring for a child with a severe disability.
Requires T2201 – Disability Tax Credit Certificate approval.
RESP & Education Grants
Tax-sheltered savings plan for post-secondary education.
The government matches 20% of contributions up to $500 per year per child through the Canada Education Savings Grant (CESG).
Adoption Tax Credit
Families adopting a child may claim eligible adoption-related expenses, including legal fees and agency costs.
Strategic Home Savings:
FHSA vs. RRSP HBP – Which Should You Use?
Best for Higher-Income Earners
Use the RRSP Home Buyers’ Plan (HBP) to maximize tax deductions before withdrawal.
Best for Flexible, Tax-Free Withdrawals
Use an FHSA if you don’t want to worry about repayments and tax implications.
Best for Long-Term Home Savings
Combine RRSP & FHSA to maximize savings and reduce taxable income.
Using the Canada Child Benefit (CCB) Effectively
Planning how to allocate CCB payments toward education, savings, or household expenses can enhance financial stability.
Applying for Tax Credits for Disabled Dependents
If your child qualifies for the Disability Tax Credit (DTC), additional tax credits and benefits may be available.
Strategic Home Savings:
FHSA vs. RRSP HBP – Which Should You Use?
Strategic Home Savings: FHSA vs. RRSP HBP – Which Should You Use?
Best for Higher-Income Earners
Use the RRSP Home Buyers’ Plan (HBP) to maximize tax deductions before withdrawal.
Best for Flexible, Tax-Free Withdrawals
Use an FHSA if you don’t want to worry about repayments and tax implications.
Best for Long-Term Home Savings
Combine RRSP & FHSA to maximize savings and reduce taxable income.
Using the Canada Child Benefit (CCB) Effectively
Planning how to allocate CCB payments toward education, savings, or household expenses can enhance financial stability.
Applying for Tax Credits for Disabled Dependents
If your child qualifies for the Disability Tax Credit (DTC), additional tax credits and benefits may be available.
How Westview Helps You Maximize
Family & Child Tax Benefits
How Westview Helps You Maximize Family & Child Tax Benefits
Ensuring You Receive
Maximum CCB Payments
We verify your eligibility and family income status to ensure you receive the highest possible CCB payments.
Optimizing Child Care & Education Expense Deductions
We help claim all eligible child care and
RESP-related tax benefits.
Tax Planning for Parents & Families
We develop custom tax strategies to help families reduce tax burdens and plan for the future.
Assistance with Disability & Adoption Tax Credits
We ensure you claim all applicable benefits for children with disabilities
or adoption-related costs.
We ensure you claim all applicable benefits for children with disabilities or adoption-related costs.
Year-Round Support for Family Tax Planning
Whether you’re expecting a child, planning for school, or transitioning out of parental benefits, we provide continuous tax guidance.
Why Work with Westview Accounting & Tax Services Inc.?
At Westview Accounting & Tax Services Inc., we combine deep expertise with personalized service. Our team takes the time to understand your unique financial situation and offers tailored advice to ensure your return is accurate, compliant, and optimized for maximum refunds. We don’t just file your taxes—we help you plan smarter for the future. Whether you’re a newcomer, business owner, or retiree, you can trust us for clear guidance, strategic savings, and peace of mind all year long.
Experienced accountants
Transparent, upfront pricing
Professional review of all tax documents
Personalized advice for your financial goals
Convenient online or in-person filing options
Claim Your Family & Child Tax Benefits
& Reduce Your Tax Bill!
Raising a family is expensive—don’t miss out on valuable tax credits and benefits. Let Westview Accounting & Tax Services Inc. ensure your family tax planning is optimized, government benefits are maximized, and your taxes are minimized in North Vancouver, BC.
Contact Us Today! Get expert family & child tax planning services!
Westview Accounting provides trusted accounting, tax, and bookkeeping services across North Vancouver and Surrey. We help individuals and businesses stay compliant, informed, and financially confident.