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.
Getting approved for the disability can result in a disability refund of $1,600 to $30,000 and more in some cases. The amount received is dependent on a number of factors including when eligibility for the disability tax credit first began (you can go back ten calendar years due to the Fairness Provisions in the Income Tax Act of Canada) and what other benefits and supplements you or your caregiver may be entitled to.
In order to qualify for the Disability Tax Credit (DTC) you must be markedly restricted in one of the basic activities of daily living, which includes walking, getting dressed, among many others. The restriction must be present all or substantially all of the time (substantially meaning at least 90% of the time). The restriction must also have lasted, or be expected to last a twelve month period of time. Sounds simple enough, right? Unfortunately it’s not. Getting approved for the Disability Tax Credit can be difficult and it`s often just to beginning in order to ensure you receive the maximum benefits you’re entitled to.
Disability Tax Service can review your information and determine if you qualify for the disability tax credit (DTC) and other related benefits. We’ll fully explore all of your options to ensure you receive the maximum amount you’re entitled to. Find out of if you qualify for the disability tax credit now.