Quote:
Originally Posted by nfotiu
That would have been the one scenario I was guessing on in Canada. What does 16k in Child benefits mean? Doing tax returns is something I do as favors, but I've done more than a handful for a bunch of different scenarios in both countries. The US one I was referencing is a woman who runs a daycare out of her home for 5 kids. Grosses 33k, nets about 24-25k. I could have deducted more, but kept it there for obamacare reasons. So no tax withheld, affordable health care with low co-pays and no deductibles, and she got $5k back on payable tax credits. What would be a comparable scenario in Canada?
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The child benefit is money that the government pays people below a certain income level. So Essentiialy a single mom making 25k gross in income would pay less then $1000 in tax but each month would receive a check from the government for $1300 or so. So her net Salary would be somewhere around 40k