Want to know what you can claim for medical expenses? Have you been confused before on what to do and which expenses are eligible? How much are you allowed to claim?
Well, thankfully, I've decided to write a post about it. Generally, prescriptions, dental work, and eye glasses are some of the most common items claimed. There is a catch. The government does expect you to pay for some of the expenses. They have instituted a threshold of 3% of your net income. Well, it is actually the lessor of 3% of your net income or $2024.
This means that, if you make $50,000 net income in the year, you can only claim expenses over and above $1,500. This is out of pocket of course. You cannot claim any credits on medical expenses that you may have been reimbursed through medical insurance.
The best place to see what expenses to claim are on the CRA's website. A link is provided below.
This post is for informational purposes only and you should do your own research before attempting to do your personal taxes. You may come across an exception, so you should consult a tax professional about your taxes to protect yourself from ineligible claims. I make no warranties or assurances that the information contained in this post is correct.
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