The latest financial news and accounting tips from KWB.
Apr
9
2019
Medical Expenses including Attendant Care
A taxpayer can claim medical expenses paid for themselves as well as for their spouse, common-law partner and dependents. A dependent can include; the taxpayer or their spouse/common law partner’s child or grandchild or the taxpayer of their spouse/common law partner’s parent, grandparent, sibling, uncle, aunt, niece or nephew whom lived in Canada at any time during the year. […]
Mar
28
2019
Deductible medical costs if you qualify for a disability tax credit
A taxpayer can claim deductible medical costs paid for themselves as well as for their spouse, common-law partner and dependents. A dependent can include; the taxpayer or their spouse/common law partner’s child or grandchild or the taxpayer of their spouse/common law partner’s parent, grandparent, sibling, uncle, aunt, niece or nephew whom lived in Canada at any […]
Mar
16
2018
Disability Tax Credit
You may qualify for the disability tax credit and not even realize it. If so, you could collect as much as $2,500 a year in tax savings!!! You do not need to be in a wheelchair to be eligible for the disability tax credit. If someone isn’t able to walk the length of a football field unassisted […]
Mar
29
2016
HOME ACCESSIBILITY TAX CREDIT (HATC)
The 2015 federal budget announced the introduction of a new Home Accessibility Tax Credit (HATC), beginning in 2016. The HATC is a non-refundable tax credit for qualifying expenses incurred for work performed or goods acquired in respect of a qualifying renovation of an eligible dwelling of a qualifying individual. A qualifying individual and eligible individuals […]