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Don’t forget your UCCB!

in Child Tax Credit, CRA

Another blast from the past, back in the day when my son was young enough to get the old UCCB system, just a reminder to declare the income!

UCCB ?

Yes, tax time is coming folks and as I trip over the mistakes I have made, and things I have forgotten, I will post hints and reminders for you, so you don’t make the same mistakes that I might be making.

Last night we got our “Beer and Popcorn” money from the government again (said he belching as he types), or as it is officially called, the Universal Child Care Benefit (or something that gives an FLA of UCCB). It then dawned on me that it is important to show this benefit as income for your family, on your tax form for last year. Now I have it in my records that I was only running down to the Beer Store since July, so $600 worth of income, that you should claim on the spouse’s return with the lower income. If you both make a nice amount of money, you’ll be paying tax on it (ouch!), in that case the UCCB may not be your best friend.

To paraphrase a well known Oktoberfest song, “In Heaven there is no beer, that’s why we have to claim it on our income tax…”?!? Or something like that. UCCB, our new friend.

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