Deductible medical expenses 20209/26/2023 ![]() ![]() In this case, it is better for Pauline to claim all the expenses for Richard, herself, and their daughter Jen on line 33099. The difference is $2,860, which is the amount he could claim on his tax return. Because the result is less than $2,479, he subtracts $1,440 from $4,300. He calculates 3% of that amount, which is $1,440. ![]() The difference is $3,340, which is the amount she could claim on her tax return. Because the result is less than $2,479, she subtracts $960 from $4,300. She calculates 3% of that amount, which is $960. Pauline’s net income (on line 23600 of her return) is $32,000. Since Rob is over 18, his medical expenses should be claimed on line 33199. Either Richard or Pauline can claim this amount on line 33099 of their tax return (Step 5 – Federal tax). Since Jen is under 18, Richard and Pauline can combine her medical expenses with theirs, for a total of $4,300. You have to calculate, for each dependant, the medical expenses that you are claiming on line 33199. your or your spouse’s or common-law partner’s parents, grandparents, brothers, sisters, uncles, aunts, nephews, or nieces who were residents of Canada at any time in the year.your or your spouse’s or common-law partner’s children who were 18 years of age or older at the end of the tax year, or grandchildren.Line 33199 – You can claim the part of eligible medical expenses you or your spouse or common-law partner paid for any of the following persons who depended on you for support: your or your spouse’s or common-law partner’s children who were under 18 years of age at the end of the tax year.Line 33099 – You can claim the total eligible medical expenses you or your spouse or common-law partner paid for any of the following persons: And if you have ongoing medical expenses exceeding the threshold amount, over the years the amount you save in taxes can really add up.You can claim medical expenses on line 33099 or 33199 of your tax return under Step 5 – Federal tax. ![]() “But the credit is designed to help those who have substantial medical claims. “Getting $600 back after out-of-pocket expenses of $4,200 may not seem like much,” says Dollar. And, if they lived in Ontario where the lowest rate is 5.05%, their total credit would be $601.50 (20.05% of $3,000). Say, after doing the math, the lower-income spouse had $3,000 in expenses over the minimum threshold (the lower-income spouse's net income for the year was $40,000, 3% of which is $1,200.If they were reimbursed through a health insurance plan for $6,000, their out-of-pocket medical expenses would be $4,200. Let’s say a family’s combined medical expenses, including health insurance premiums, were $10,200. ![]() *(Premiums refer to the monthly or annual fees you pay for insurance.)ĭollar, Director of Insurance Tax Solutions at Sun Life, provides the following example: But not any amount covered by your employer. You can claim only the portion of the premiums* you pay yourself. pays for medical expenses not covered by your provincial medical insurance plan.What if you need help managing your medical expenses?Ĭan you claim out-of-pocket health insurance premiums?.Can you claim out-of-pocket health insurance premiums?.Can you claim out-of-pocket medical expenses?.Can you use the credit to reduce your taxes for the year?.At what credit rate does the government give this credit?.Can you get a credit for unreimbursed medical expenses?.Here are answers to some of your questions about claiming your medical expenses on your tax return: Why? “Because getting the most from it requires some careful planning – including keeping all of your medical receipts.” “The Medical Expense Tax Credit may be one of the most underused tax breaks available to Canadians.” So says Stuart Dollar, Director of Insurance Tax Solutions for Sun Life. a portion of our health insurance premiums.the portion of the bill that I covered myself, and.What I didn’t know, however, until I went to file my tax return, was that I could also claim as a tax credit: That meant my health insurance at work could cover a portion of the expense. In our case, we were lucky in that respect because it was an accident. But, as I soon discovered, major dental reconstruction is a costly affair. His formerly perfect, orthodontically aligned two front teeth were no more. While he wasn’t badly hurt, his front teeth were. It was the call every parent dreads: “Your son’s been in an accident.” Fortunately, in my case, the next words I heard were, “But he’s all right.” After I caught my breath, I learned that my 19-year-old son had been in an accident. ![]()
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