Tax relief for looking after the elderly
Everyone gets older and at some stage of life it may not be possible to live independently. In that situation many people will look to enter a nursing home. These can be excellent environments where the client can maintain a happy and active life with the assistance of trained professionals. However, this does not suit everyone, and some people and their children may opt to be cared by family at home. In this case, what help can be received?
The Home Carer Tax Credit is a tax credit provided to married couples or partners (who are jointly assessed for tax) where 1 person works in the home looking after a dependent person.
The tax you pay is calculated as a percentage of your income. A tax credit is taken from this to provide the real amount of tax that you will have to pay. A tax credit reduces your payable tax by the amount of the credit.
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