10 Medical Tax Deductions That Can Reduce Your Taxes
The favourite word of anyone doing their taxes - deductions.Anyway to reduce the amount that you'll be paying taxes, that's what we're all looking to find.
Revenue Canada does all it can to make sure you know what can be deducted, and consulting a professional is also a good idea.
Everyone remembers the general rules of medical deductions, but do you know all that can be included?
Help yourself with these 10 tips that could help reduce your taxes.
One of the overlooked tax deductions is the disability tax credit, which can be worth $1500 or more depending on the province. If you think you, your spouse or family member is eligible, speak with your doctor, who will have to complete the form for your claim.
Medical tax deductions can include:
1. Air conditioner/furnace upgrade - for those with a severe chronic disorder, ailment or disease, prescription required for their health.
2. Attendant care expenses - caregiving in the home or in a nursing home or group home.
cancer treatemtns whtethe sdone in Canada or not can he deducted on taxes
3. Bathroom accessories - items to aid in getting in and out of bathtub or on and off toilet, prescription required.
4. Bone marrow transplant - costs for finding a donor match, including legal fees, insurance premiums and travel costs for donor and family member.
5. Cancer treatment - done in or outside Canada with licensed medical practitioner or hospital.
6. Cosmetic surgery - costs related to surgery as a result of medical needs, deformity, injury or accident.
7. Eyes - glasses, contact lenses or other devices needed for sight, prescription required.
8. Travel expenses - if medical treatment location is not easily accessible, costs of public transportation can be claimed, while if location is over 80km, other costs may be allowed such as food or accommodation.
9. Orthodontic work - only if necessary as required by orthodontist, cosmetic is exempted.
10. Walking aid - any form of walking assistance from cane to scooter if prescribed.







