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HomeMy WebLinkAboutLakeshore Advance, 2013-07-10, Page 9Tax breaks for summer day camps (IMI Agency For much of the year, and depending on their age, your children are in day cart', school or before/after school pro- grams - so you know they're well cared for while you pursue your vocation. But during the summer months, when schools are closed and day-care celltt'l'S may curtail their hours of operation, you have to find another way of keeping your Oltods safe and occupied during the day. That's why summer day camps are ich a popular choice for parents every- where in Canada. And here's i money- saving fact that stakes day camps even more attractive: day camp fees, like other child-care expenses, may be deducted from tt parent's income taxes. Here's how it works. 1)ay camp expenses can he deducted front income tax by the lower -earning spouse of an eligible child. The amount of child-care expenses that can he claimed in a tax year is based on the child's age and whether the child has any disabilities. 'l'he deductible amount also has an overall limit of two-thirds of the earned income of the lower -earning parent. The annual chilli care expense limit per child is: Child tinder age 7 -. $7,000 Child age 7 to 16 - $4,000 Child eligible for the disability tax credit - $10,000 Deductions for payments to a hoard- ing school or overnight camp have weekly limits. For each week the child attends the school or camp the weekly limit is: Child under age 7 • $175 per week Child age 7 to 16 - $100 Child eligible for the (disability tax credit -- $250 You can claim these deductions using tax form '1'7711. You are not required to bntit receipts with the form but you ould retain them in case they are ever requested. (child-care expenses are tax deducti- ble both federally and provincially, except for (Quebec. In Quebec, child-care expenses can be claimed as a refundable tax credit with the credit rate varying depending on net fancily income. (yet all the (tax) credit you deserve for sending your kids to day camp --- and make sure you get maximum tax -reduc- tion benefits from your other tax credits and deductions. '''alk to your profes- sional adviser about the complete roster of tax -saving strategies that (.1111 work for you. This column, written and published by Investors (roup I:ivancial Services Inc., presents general information only and is not a solicitation to buy or sell any investments. For more information on this topic please contact Audrey 1 at 519-(186-740(1 ext 2311. '!'willt'r cum/nuclreydakin Wednesday, July 10, 2013 • Lakeshore Advance 9 Conservation authorities help prepare Ontario for flood events Lakeshore Advance Ihr record-setting rainfall anti large- scale flooding, that has caused devasta- tion in some communities in Alberta, underlines the need in Ontario for con- tinued effective flood forecasting, projects to limit flooding, and the mien agement of development in flood plains, according to Conservation Ontario, the organization that represents conserva tion authorities, the most severe flooding on record itt Ontario occurred in October 19)54 when I Iurricatie !laze' passed into southern Ontario, killing eighty-one people and causing more than $1110 million in dam- ages. Following the devastating impact of !laze', a flood plain mapping and flood forecasting and warning system was established in the Province of Ontario. Ontario's flood management system Is widely regarded as a positive example of good risk management, according to Conservation Ontario. Ontario's 36 con- servation authorities aur local watershed management agencies that deliver serv- ices and programs that protect and man- age water and other natural resources. Conservation authorities work with the Ontario Ministry of Natural Resources under a provincial emergency manage- ment framework to deliver a flood man- agement program to help safeguard the homes, belongings, and lives of ()ntari- ans from flooding events. Conservation authorities are respon- sible for monitoring and predicting flood fiows and water levels within their watersheds, operating flood control structures such as dams, and sending out flood messages to focal municipali- ties and agencies. Flood forecast mes- sages enable conservation authorities and municipalities to prepare for, track, and manage local flooding. Advance warning provides these agencies with the opportunity to put emergency plans Into operation, evacuate communities if nt'l't'SSary, 1111(1 Se'('tire property in ar'i'as 1ti 'is,'-*::`, '"''`'`�`?�'IkM.lM►"Mit'i�p.+�s„�1,,.."'11,'ii.�t�0�ti7�'�r��. Flooding In Thedford fast week that are more likely to flood. (The Ontario Ministry of Natural Resources provides a flood management program, through their district offices, in parts of the province where conservation authorities dont exist, Conservation authorities have the ability to restrict development in flood plains through the (conservation Author- ities Act (1946). Flood 'management pro- grams delivered by conservation author- ities prevent loss of life and reduce flood damage costs by more than $1(X)111111 on per year. "Although conservation authorities and our partners have done if good job at minimizing risk, the reality is that flooding remains to be the leading cause of public emergency in Ontario, costing millions of dollars per year in damages," said Kim Cavite, General Manager of Conservation Ontario. (;Inmate change impacts are a significant issue as they create more frequent and more serious flood events, (ravine said. "Flooding can no longer be seen as a spring problem;. she said. "It's an issue year -rotund.' Merry Rags SUMMER SALE Up to 5Q % OFF All Summer Merchandise 2 114 km% coull►. o/' Grand Bend on llwv. 21 Open 7 Days a Week 519.238-2818 Larry Whiting Special to Lakeshore Advance Conservation Ontario said in it news release this week that additional investment is needed now to reduce costs later to minimize the risk and reduce overall cost to the public. (continued funding is needed for aging dams and dykes that require ongoing preventative maintenance, repair, and replacement, according to the conserva- tion organization. More fund- ing is also required to update flood plain maps to continue to move from the traditional hard -copy Wraps to fmodern digital mmapping.'These ,mod- ernized maps can be used to update emergency response plans and improve prepared- ness for future large floods, according to Conservation Ontario. Fortunately, technology has evolved, significantly reducing the cost to update and maintain flood plain slapping. eche Federal Pro- vincial I:loodplain Damage Reduction Programs, which historically provided funding for flood plain mapping, steeds to he reinstated to update flood plain mapping and associated computer models. Not only will this information help in prepar- ing emergency response plans but it will also support efforts by Environment Can- ada to provide improved weather forecasts and weather radar information. Investment in hazard man- agement is an important underpinning of the econ- omy that can reduce disrup- tion during disasters and return business to normal much more quickly, accord- ing to Conservation Ontario. Ibis is one of the factors that stakes Ontario an attractive place to live and do business. Most importantly, this invest- ment will help keep Ontari- ans safe and reduce impact to then, during major floods. '1'o learn more about flood forecasting and management in Ontario visit (conservation Ontario's website at conser- vation-ontario.onca or see this link: http://www.conser- vatfon-ontario.on.ca/ projects/flootistatus.htntl. se" MUNICIPAL! 1Y OP BLUEWATER rw.� „- .ewk, nwIv naw 2001 LET THE FUN BEGIN! Summer Day Camp For children aged 4 - 1 2 I .ocatit)ns: hayfield and /midi July 8th - August 16th Monday - Friday Drop off between 8:00 - t):OOam Pick up between •1:00 - 5:O0pml (lost: $22.)11 / day $90.111) / Nveek $1101 / half clays Still lots of room to register! Come .join us for a fun -filled summer! Questions - call Stacey 511)-236-4351 OR email: laporte.stae&' ((1' gtnail.ct►m