If you have a child enrolled in private daycare, did you know that you can receive advance payment for childcare expenses from Revenu Quebec? By applying before December 1st, you can start receiving your tax credit on the 15th of each month to help with your monthly cashflow.
To apply for advance payment for childcare expenses and receive the amount in 12 payments, you MUST request to set up your advance payment before December 1st.
ADVANCE PAYMENTS OF THE TAX CREDIT FOR CHILDCARE EXPENSES
What you should expect
With the advance payments for childcare expenses you can consider several different options:
• contribute to your RESP plan to benefit from government grants
• contribute to your RRSP which can increase your tax savings
• pay down your debt sooner
Please review the requirements before applying.
Note: Use the calculation form provided by Revenue Quebec to determine your advanced for childcare expenses payment. If you overestimate your private daycare expense for 2018, Revenue Quebec you will make adjustments on your 2018 tax return.
You must report to Revenu Quebec once your child stops attending a private daycare.