Am I right in thinking only one parent can claim for a tax deduction for a child?

[Block]

Hello,

Am I right in thinking only one parent can claim for a tax deduction for a child?

Thank you

[captainspoke]

Isn't this kind of asking for the judgement of solomon?

Or at least a little nod in that direction?

[Tkydon]

Yes, the parent with the higher income, and therefore the higher marginal tax rate should use the Dependent Allowance to reduce their taxable income for the greater tax saving.

[Block]

Thank you Tkydon. That's very helpful.