Getting ready for tax season has taken on a whole new meaning for me. I’ve discovered a bunch of different tax credits and benefits that we will be applying for to help offset some of the costs associated with the peanut’s ASD diagnosis. Of course, navigating the tax system in Canada is a delicate dance, so I thought I’d share some of the info I’ve found so far.
Disability Tax Credit – a non-refundable tax credit that helps persons with disabilities or their supporting persons reduce the amount of income tax they may have to pay.
Medical Expenses – claim eligible medical expenses that you paid for the person who depended on you for support.
Child Disability Benefit – a tax-free benefit for families who care for a child under age 18 with a severe and prolonged impairment in physical or mental functions.
Registered Disability Savings Plan – a savings plan that is intended to help parents and others save for the long term financial security of a person who is eligible for the disability tax credit (DTC).
These links will take you to the Canada Revenue Agency website were you can find out what hoops you’ll have to jump through to qualify for these benefits. I’m told it’s worth it.
I’ve got my hoop-jumping shoes on.