Medical expenses can be a significant burden on individuals and families. Fortunately, the Canadian government offers some relief by allowing taxpayers to claim medical expenses on their tax returns. In this blog post, we’ll cover everything you need to know about medical expense claims, including eligibility requirements, allowable expenses, and the claiming process.
Eligibility Requirements
To be eligible to claim medical expenses on your tax return, you must be a Canadian resident and have paid for eligible medical expenses for yourself, your spouse or common-law partner, and your dependants. You can only claim expenses that you have not been reimbursed for and that were incurred in any 12-month period ending in the tax year.
Allowable Medical Expenses
The Canada Revenue Agency (CRA) allows a wide range of medical expenses to be claimed on your tax return. Some of the most common expenses include:
- Prescription medications: If you have paid for prescription medication, you can claim the cost as a medical expense.
- Dental services: Expenses for dental services such as check-ups, cleanings, and procedures can be claimed.
- Medical services: Expenses for medical services such as physiotherapy, chiropractic services, and massages can be claimed.
- Vision care: Expenses for vision care such as prescription eyeglasses, contact lenses, and laser eye surgery can be claimed.
- Medical devices: Expenses for medical devices such as hearing aids, wheelchairs, and crutches can be claimed.
- Travel expenses: If you need to travel more than 40 kilometres from home to receive medical treatment, you can claim the travel expenses as a medical expense.
- Home renovations: If you require home renovations to accommodate a disability, you may be able to claim the expenses as a medical expense.
The CRA provides a comprehensive list of eligible medical expenses on their website. Be sure to check the list to ensure that you don’t miss any allowable expenses.
Claiming Medical Expenses
To claim medical expenses on your tax return, you need to calculate the total amount of eligible expenses and enter them on line 33099 of your tax return. You’ll also need to complete the medical expenses worksheet to calculate the total amount that you can claim.
If you’re claiming medical expenses for a dependant, be sure to complete the proper section of the worksheet and enter the total amount on line 33199 of your tax return.
It’s important to keep all your receipts and supporting documents for at least six years in case the CRA asks for proof of your claims. If you’re unsure about whether an expense is eligible, it’s always a good idea to check with a tax professional.
In conclusion, claiming medical expenses can be a valuable way to reduce your tax liability and offset the costs of necessary medical expenses. By understanding the eligibility requirements, allowable expenses, and claiming process, you can take advantage of this tax benefit and keep more money in your pocket.