My Choice
Posted
September 29, 2006 at
7:03 pm by
Andrea
This week, I got my first Choice in Child Care cheque.
Choice in Childcare–the Conservative New Canadian Government’s bribe monthly child-care subsidy of $100.
The payment is not taxed directly, but will be taxed as income at tax time; so it’s not actually $100. I put it in our savings account, and am now trying to decide what to do with it.
Frances’s daycare costs over $700 per month. When she was an infant, it was over $1100.?‚? We’ve already budgeted for that, so there’s not much point in putting the money towards it.
I don’t want to spend the money, since we don’t get to keep all of it.
So it’s sitting in our savings account. Most likely, around January, we’ll put it into my RRSP (registered retirement savings plan, equivalent to a 401k I think). Then we won’t have to pay tax on it, because the tax deduction will be equivalent to the income.
So my family isn’t calling it the Choice in Child Care Allowance.
We’re calling it Andrea’s Pension Fund.
Tags: baby bonus, canada, child care, News & Politics
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1. Jessica Carlson said:
September 30, 2006 @ 7:40 am | Quote
Do you get to write off any of your childcare? Or is the $100 a month, it?
On a tangential note, a co-worker told me yesterday that 80% of French moms (in France, not Canada) work. Apparently, they make every effort to accommodate working mothers by providing childcare on site (or at least that was what I was told). See, that is a social service I think I can get behind. It couples work ethic and responsibility in that it allows mothers that want to work or need to work, the ability to do so.
(By the way, I kinda like your new government.
)