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Question

How do I claim the Non-refundable Nova Scotia tax credit - Line 58230 Amount for young children - with Turbo tax?

Forum|Forum|2 years ago
February 24, 2024
3 replies
0 views

I thought it would do it automatically but at the end of my refund it says Total Nova Scotia Non-Refundable credits is 1430 but I had 2 children under 6 years of age for the 2023 tax year and it's supposed to be $100/month of the year that they are under 6.

Are you using TurboTax CD/Download or TurboTax Online?

lindsr1984Author

Turbo Tax Online. To help me understand more - does the 1200/year per child come off your gross income in return reducing your taxable income?

No, it would come off your Taxable Income, which is calculated after Net Income.

Non-refundable tax credits can be used to reduce the tax that you paid or may have to pay. It can’t be used to generate or increase a refund. So, you will only get the amount that you would need to reduce you tax payable to zero.

lindsr1984Author

I paid in approximately 10,000 in income tax last year because I was on maternity leave until June. I had 2 children under the age of 6 and 1 older. Would that $100/ month per child under 6 reduce the 10,000 to 7600 in payable income tax?

Yes.

$100 x 12 months = $1200

For 2 children it would be $2400.

$10000 - $2400 = $7600

It never hurts to double check.

You can open your 2021 & 2022 returns by going to the links for those years:
https://ww1.2021.ca.turbotaxonline.intuit.com/signin?_swlg=en

https://ww1.2022.ca.turbotaxonline.intuit.com/signin?_swlg=en

lindsr1984Author

Thank you for your help!!