April 25, 2011
Claiming healthcare expenses a good prescription for tax time – by Terry McBride
Claiming the income tax credit for medical expenses usually takes
extra time to calculate. But the effort is worthwhile if you can save a
few hundred dollars of tax. T
Image by appelogen.be via Flickr
Although we have a publicly funded
universal health insurance system, we pay many medical bills out of our
own pockets each year.
Prescription drugs, dental work and
eyeglasses are among the allowable medical expenses listed on the Canada
Revenue Agency (CRA) website. Use the keywords “CRA medical expenses”
in your favourite Internet search engine to find the alphabetical list.
the heading “medical practitioner” you will see a chart identifying
which of 42 types of health care professionals are authorized to
practise in each province and territory in Canada. For example, you
cannot claim a receipt for massage therapy or acupuncture in
Saskatchewan. But you can claim a receipt for a midwife in Saskatchewan
because a midwife is authorized.
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