The Disability Tax Credit (DTC) is one of the most overlooked but also most beneficial tax credit available in Canada. The disability tax credit can provide significant financial assistance when used correctly. Many Canadians incorrectly assume that you must be “disabled” in order to qualify for the disability tax credit, when in fact any medical condition may qualify. Eligibility criteria depends on how the symptoms impact a persons ability to perform the basic activities of daily living.
The disability tax credit is unique from any other program in Canada for a number of reasons. For one, the approval process and eligibility criteria are completely different than any other tax credit or disability benefit program in Canada.
The Disability Tax Credit is also unique because it is used by the Canadians government to determine eligibility for a number of programs, such as the Registered Disability Savings Plan (RDSP), government bonds and grants and other benefits and tax supplements. That’s one of the many reasons why it’s important to make sure your Disability Tax Credit application gets completed properly because getting approved for the disability tax credit not only ensures eligibility for the DTC but also many other programs.