In our experience many people do not realize that they or a loved one may qualify for a Disability Tax Credit. This credit reduces your tax payable which therefore increases your refund. We understand money cannot necessarily make things better, but it can increase their quality of life through better care. This credit can be retroactively applied to your last 10 years of tax returns. It is possible for some people to get close to $15,000.00 in refunds. The credit is also transferable if you or your loved one does not have income to benefit from the credit.
The person must have significant difficulty performing basic activities of daily life including,
- Mental Functions
- Feeding or Dressing
- Bowel or Bladder functions
Some common disabilities that may qualify
Alzheimer’s, Amputation, Anxiety, Autism, Bipolar disorder, Bladder Disorder, Cancer, CPOD, Colitis, Crohn’s Disease, Cystic Fibrosis, Dementia, Depression, Epilepsy, Fibromyalgia, Herniated Disc, Hip Injury, IBS, Lou Gehrig’s, Mental Illness, Multiple Sclerisis, Parkinson’s Disease, Physical Impairment, PTSD
**This is just a small example, many other impairments also qualify**
- Get T2201 form (available online) filled out by your doctor or specialist (specialists are better than general practitioners)
- Drop off to CRA and wait for approval (Up to 6 months)
- Notify accountant
Contact us for further information about this program.