11/20/2023 0 Comments Taxes medical expenses![]() However, that means you must use the same period when claiming medical expenses for your dependants. So, if you had a number of unclaimed medical expenses over several months in 2013, you can combine them with expenses from 2014 and claim then on your 2014 return as long as they fall within a period of 12 consecutive months. (Brian Snyder/Reuters) One detail to be aware of is that your medical expenses don't have to fall within the calendar year but can be claimed for any 12-month period that ends in the tax year for which you are filing. ![]() Service dogs can be a tax-deductible medical expense in some cases. It's something that is not easy to do over the course of a year unless you make a conscious effort to put the receipts aside, Rowell says.įor those who make the effort, anything over the amount automatically deducted by the Canada Revenue Agency means money in your pocket. You do need to do some homework, in terms of keeping your medical expense receipts. For some, that means the credit might be negligible or even nonexistent, but for others it's definitely worthwhile to make a claim. The caveat of claiming any medical expense is that the government automatically deducts the lesser of either $2,171 or three per cent of your net income from a person's total medical expenses. The list of medical expenses eligible for a tax credit is exhaustive, and we have highlighted some the less familiar ones below.įor the 2014 tax year, the government has added two items to the list of eligible medical expenses: the cost of service animals used to help manage severe diabetes and the cost of mental or physical therapy for persons eligible to claim the disability tax credit. "If you don't start adding them up, you'll never know," said Rowell. The tax credit applies to any number of medical expenses - including prescription drugs, eyeglasses, health-related home renovations, dental work and even buying gluten-free bread or medical marijuana.
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