The Caregiver Tax Credit (CTC) is a tax credit available in Canada to individuals who provide in-home support for a relative who is a dependent, is over 18 and resides with the supporting relative in his/her residence at some time in the year.
The dependent must be a child, grandchild, brother, sister, niece, nephew, aunt, uncle, parent or grandparent.
As of 2012, the CTC was worth approximately $600 in annual tax saving.
it could be retroactively filed for 10 years which can result in an overall tax savings of approximately $5,000.
The CTC erodes dollar-for-dollar if the dependent's income exceeds $13,986 and becomes completely if it tops the $17,745 threshold.