11/20/2023 0 Comments Allowable deductible medical expenses![]() ![]() over-the-counter medications, even with a prescription.There are numerous ineligible deductions for the medical expense tax credit that appears on the CRA website. assuming she has the same net income this year:Īllowable amount of medical expenses will be = ($1500 + $1000) – 3% x $60,000 = $700 Ineligible Deductions This year she can claim a period from May 1 st of last year until April 30 this year (12 months) with of expenses. This year, she decided to improve her lifestyle and saw a chiropractor regularly until the end of April costing her a total of $1,000. Since her total expenses are less than the threshold, she will not be able to claim the expenses. Linda paid $1,500 for her eye Lasik surgery on May 1 st last year, and that was her only medical expenses for the year. This allows you to claim those medical expenses you couldn’t claim last year, as long as the last date ends in the tax year. You have to use the same start and end date for all members in the family. You cannot claim a medical expense this year that you have claimed in the previous returns. If they are for any other dependent, they can be claimed on line 33199.ĬRA allows you to use any 12-month period of expenses that is most advantageous to your situation, provided it ends in the tax year.If the expenses are for you and your spouse, common-law partner or dependent child under 18 years of age, you can make the claim on line 33099 of your return.This includes receipts, prescriptions, mileage logs, and proof of any disability. The list is not exhaustive and includes items such as:Īlong with the list is the back-up documentation you need to be able to use the deduction. Allowable DeductionsĬanada Revenue Agency (CRA) has compiled a list on its website of allowable deductible expenses. Claim the corresponding provincial or territorial non-refundable tax credit on line 58689 of your provincial or territorial Form 428. You can also claim medical expenses for your dependents and your spouse’s or common-law partner’s dependents such as parents, grandparents, siblings, aunts, uncles and nieces and nephews.Ī portion of the credit comes from the federal government, and a smaller amount is allowed by the provincial and territorial governments. This tax credit can also be claimed for your spouse, common-law partner, and children under 18 years of age. Although most Canadians are aware that the medical expense tax credit exists, many fail to keep the necessary receipts or running tally of expenses. The medical expense tax credit is one of the most overlooked non-refundable tax deductions. ![]()
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