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Parenting Canadian Disability Programs - Get Educated about Available Financial Support and Services
Parenting Canadian Disability Programs - Get Educated about Available Financial Support and Services
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Canadian Disability Programs - Get Educated about Available Financial Support and Services |
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Understanding Federal Credits and Deductions Offered for People with Special Needs: According to the Government of Canada's Office of Disability Issues , more than 3 million Canadians have a disability and depend on someone for support. The definition of a caregiver according to the federal government is anyone who supports a person who is dependent on the taxpayer by reason of mental or physical infirmity. While all caregivers are eligible to file or back file for the Disability Tax Credit (DTC), many people are unaware of its existence. The DTC is a non-refundable tax credit that reduces the amount of federal income tax payable and may even generate a refund for past taxation years.
Understanding Federal Credits and Deductions Offered for People with Special Needs: According to the Government of Canada's Office of Disability Issues , more than 3 million Canadians have a disability and depend on someone for support. The definition of a caregiver according to the federal government is anyone who supports a person who is dependent on the taxpayer by reason of mental or physical infirmity. While all caregivers are eligible to file or back file for the Disability Tax Credit (DTC), many people are unaware of its existence. The DTC is a non-refundable tax credit that reduces the amount of federal income tax payable and may even generate a refund for past taxation years. Parents and caregivers of people with a disability can claim past income tax credits for up to ten years. Accordingly, people with disabilities and their caregivers can have their income tax returns reassessed back to 1996. People with disabilities or their caregivers who have never claimed the Disability Tax Credit [DTC] should claim it now! Thousands of Canadian families who care for a person with a disability may be eligible to receive thousands of dollars in refunds from income tax they have already paid. Some claimants have received refunds of between $12,000 and $21,000 or more. 3. Here's more about the benefits: Caregivers of individuals who are aged 18 or over plus individuals who have either severe and prolonged cognitive or physical disabilities are eligible to claim $6,596 on their 2005 tax return. If at anytime in 2005 the caregiver maintained a residence where their dependent lived, the caregiver may also be able to claim the Caregiver amount of $3,848 on their 2005 tax return and back file this to 1998. Parents who care for a child with a disability under 18 may claim a reduced Disability Tax Credit . Families with either low or modest incomes may also be eligible to receive the Child Disability Benefit. Other Benefits of the DTC: Qualifying for the DTC is the yardstick that allows the individual or their caregiver to make a number of claims for medical expenses and deductions; such as education and tuition fees, attendant care, private nursing, daily-living aids, dental bills, prescription drugs, hearing aids, the adaptation of vehicles, travel expenses for medical treatment not locally available, therapy, group-home fees, talking books, tutoring, renovations and many more. Finally, while federal tax legislation is applicable throughout Canada, each province and territory has its own financial supports and assets limits for people with disabilities. For more information on the specific social benefits legislation concerning financial support applicable to your province, visit your government website. About the Author: Frank Cole Looking to find the best information on a Ontario Disability Program, then visit www.life-trust.com to find the best advice on gaining help for your special need children... Free reprint available from: Canadian Disability Programs - Get Educated about Available Financial Support and Services. |
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