Tax Tips for Parents with Kids with Disabilities
It is important to give tax tips for parents with kids that have disabilities, as they deserve all the help we can give them!
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Disability Tax Credit
The disability tax credit is the money the CRA gives folks with disabilities (or their parents) after the CRA has OK’ed the disability. To quote the CRA on this:
The disability tax credit (DTC) is a non-refundable tax credit that
helps persons with disabilities or their supporting persons reduce the
amount of income tax they may have to pay. An individual may claim
the disability amount once they are eligible for the DTC. This amount
includes a supplement for persons under 18 years of age at the end
of the year.
Applying for the DTC can be a cumbersome process, however, I strongly suggest not using any external firm for help, you can do this yourself, and you should, to ensure you keep the money that is due to you.
Disability Tax Credit: Please Do It Yourself
The Disability Tax Credit (DTC) is a valuable benefit offered by the CRA to help Canadians living with disabilities or supporting a disabled family member. Unfortunately, some third-party advisory firms have capitalized on this by charging exorbitant fees—often 20% to 30% of the full tax refund—to “assist” in the application process. These services, while appearing helpful, can be predatory, especially when clients are vulnerable and unaware they can apply themselves.
This article shares a first-hand perspective on successfully applying for the Disability Tax Credit, emphasizing the increasing accessibility of doing so through CRA’s MyAccount and updated eligibility criteria that now include a wider range of medical practitioners. It also highlights legal concerns, allegations of CRA audits, and the risk of having credits clawed back due to improperly filed claims.
The takeaway: Do not use services that charge a percentage-based fee. Either handle the application yourself or consult a reputable accountant who charges a flat rate. The article includes links to investigative reports from the Toronto Star and CBC to help readers make informed decisions and protect their refunds.
Medical Tax Credit for School Costs Template
If you have a disabled child you can try to claim Medical Tax Credit for School Costs if the child’s schooling is essential to help with their disability. Most training for a disabled person should be a medical expense, so research and ask the CRA if this is the case?
CRA Child Disability Benefit Tax Credit (How To)
Getting the CRA Child Disability Benefit (Child Disability Tax Credit (DTC)) can seem like a daunting task, but it is easier, if you follow these steps.
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