Tax Question

[Zewind]

Am I able to claim Health & Dental premiums I pay under medcial expenses?

I was working on my taxes and the program said I could. Never heard of this. Anyone know? :dunno:

[codetrap]

I had this exact question. So I went the CRA's website and looked up what valid medical expenses I could claim were.

[eblend]

If you pay them as part of your employment, they should be on your T4 I think as some deduction. there is a list of what can be claimed, but it only applies if you are not reinbursed for it by other means already, such spending 1k on laser eye surgery and getting reinbursed by your insurance, that you can't claim

[Zewind]

Thanks - Found out that the first 3% of net income or $1980 (apprx) which ever is less. Is considered a buffer.


So I dont come anywhere close to that number. but thanks again for the input.

[Kloubek]

One thing I discovered when looking into medical expenses is that if you wish to delay claiming an expense this year you can add it to next year's tax claim. The only stipulation to this is that you claim for one calendar year only.

So, for example, I had an expense for my laser eye surgery in October. It was $2600.00. However, I have some expenses I know I am going to incur in the next couple of months as well. So instead of claiming my lasik this year, I am doing to delay it until next year's taxes. So with that said, I will be allowed to claim anything from that October to this coming October only.

So why delay it? Because that 2g minimum you mention means that I only have $600 extra to claim this year. And since my medical expenses coming up will be about $1500, I won't be able to claim anything on those at all by itself. However, if I lump the $1500 and the $2600 together for a $4100.00 expense, then minus the 2g minimum and I will be able to claim 2100.00 in expenses.

I only say all this not because anyone cares about my own personal expenses, but moreso that somebody might be in the same boat and this could save them a wad of dough.