Don’t miss out on medical expenses
Zoomer | January 1st, 2006
Every year many Canadians miss filing for lucrative medical expense claims. There are only a few simple rules to remember:
- Total medical expenses must be greater than 3% of your net income. So reduce your net income every year with an RRSP deduction, if possible.
- Spouses can claim each other’s medical expenses, so if both are taxable, it makes sense to claim the costs on the return of the spouse with the lowest income.
- Glasses
- dental work
- payments to licensed medical practitioners,
- part-time home care
- various devices including hearing aids and wheelchairs
- medical-related travel including ambulance and hotel costs in a remote location, if treatment is not available in your community
- amounts paid for care in special schools and group homes
- thery for the disabled
- respite care for those looking after the disabled… and much more