Even if you have signed as an owner-builder on the building permit: 1  you and a builder, contractor or tradesperson must enter into a written contract for domestic building work costing more than $5,000.
1 The parent who the child spends the most time with may claim the dependent. 2  If the child spends equal time between both parents, then the parent with the highest adjusted gross income may claim the dependent. 3  If only one of the taxpayers is the childâs parent, that parent may claim the dependent.
However, the custodial parent can waive his or her right to claim a dependent in favor of the non-custodial parent. The non-custodial parent would then be able to claim: the dependent's personal exemption, child tax credit and additional child tax credit, and. tuition and fees deduction or the education tax credits.