• Understanding the Canadian Disability Tax Credit

  • Apr 21 2023
  • Duración: 28 m
  • Podcast

Understanding the Canadian Disability Tax Credit

  • Resumen

  • Do you or a family member qualify for the disability tax credit? Completing the form can be a nightmare. In this epispode Christine Brunsden of Benefits2 explains how her app has streamlined the process.

    The Disability Tax Credit (DTC) is a non-refundable tax credit in Canada that helps people with disabilities or their supporting family members reduce the amount of income tax they have to pay. To be eligible for the DTC, you must have a severe and prolonged impairment in physical or mental functions, as certified by a medical practitioner.

    If you are eligible for the DTC, you can claim it on your income tax return. The amount of the credit varies depending on your individual circumstances, but it can be worth up to $8,576 for the 2021 tax year. In addition, the DTC may also make you eligible for other federal, provincial, or territorial tax credits and benefits, such as the Canada Child Benefit, the GST/HST credit, and the Working Income Tax Benefit.

    To apply for the DTC, you or your supporting family member must fill out Form T2201, Disability Tax Credit Certificate, and have it certified by a medical practitioner. The form requires detailed information about your medical condition and how it affects your daily life. Once you have been approved for the DTC, you can claim it on your tax return for the current and future years, and you may also be able to request a retroactive credit for previous years.

    It's important to note that there are many organizations and professionals who offer assistance with the DTC application process, but you should be cautious of any that charge a fee or make guarantees of approval. You can find more information about the DTC and how to apply on the Canada Revenue Agency (CRA) website.

    Feel free to call Christine  at  +1 877-257-7725 with any questions

    Visit Disability Benefits Advocacy for more information.

    Nick Godfrey - Nick@Proinsure.ca - 905-815-7186 - https://www.linkedin.com/in/nickgodfrey01/
    Mehdi Rahman - SmartFriendSolutions@Gmail.com - +1 647-355-0926 - https://www.linkedin.com/in/mehdirahman/
    YourTalentMatters.ca

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