The provincial government is outlining more details about its new child care tax credit.
Finance Minister Vic Fedeli calls the Ontario Childcare Access and Relief from Expenses credit one of the most flexible of its kind.
“The tax credit would target families earning less than $150-thousand dollars a year ensuring our government’s support would get through to those who need it the most,” says Fedeli.
The credit will provide up to $6-thousand per child under the age of 7 and 3,750 for every child 7 to 17.
Fedeli says the new credit is over and above existing ones already provided by the provincial and federal governments.
The credit would provide about 300,000 families with up to 75 per cent of their eligible child care expenses, and allow families to access a broad range of child care options, including care in centres, homes and camps.
“It’ll make it easier for those parents to reenter the workforce when they’re ready.”.
