. A piece of legislation intended to “better protect disabled Canadians from the predatory practices of some disability tax credit promoters.” In addition to providing increased protection to disabled persons from unscrupulous consultants, the Act has been instrumental in starting a much-needed conversation regarding disability benefits.
regarding the simplification of the disability tax credit (DTC) application procedure. The consultation process provided a forum for hundreds of disabled persons and other interest groups to share ideas on how to improve access to this much-needed – and often underutilized – tax credit.
The Disability Tax Credit (DTC) is non-refundable tax credit designed to help free up funds for Canadians with disabilities and their caregivers. In order to qualify for the credit, individuals must be a Canadian Citizen, have had a physical and/or mental disability for a minimum of 12 consecutive months, and have had that physical or mental disability certified by a doctor.
It’s important to note that before including the tax credit in your return, the Person with Disability (PWD) must first apply for the DTC and be approved by the CRA. It is not a tax credit that you can merely check off on the date that you file.
and briefly described how it can provide a boost to the financial security of disabled persons. We decided to briefly visit this topic again as the RDSP can be beneficial. The What and the Why (and a bit of the How) is explained in the video below and you can find even more information on the
Curated from Disability Tax Credit: Recent Changes and Things to Know – Murphy Battista LLP