One is eligible for the Disability Tax Credit if one has been or will be unable to do any of the following by themselves: dress, feed, go to the washroom, have the thought process to perform an everyday function for one year, or if one is unable to hear, see, talk or walk.
One does not only have to be restricted to a bed, chair or wheelchair in order to be eligible for the Disability Tax Credit. This is a total misconception.
In order to apply for the Disability Tax Credit, Form 2201 – “Disability Tax Credit Certificate” must be completed by a registered medical practitioner. This form requires the date the disability started.
One should be aware that the Disability Tax Credit consists of a Federal component and a Provincial component.
It is also important to note that the Disability Tax Credit is non-refundable and is only available to those who have taxes payable. If the amount of taxes owed is less than the Disability Tax Credit, as stated in http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/316-eng.html, one may be able to transfer all or part of the disability amount to a spouse or common-law partner or to another supporting person.
Although we have tried to outline some of the key points of the Disability Tax Credit here, it is of the outmost importance that whoever is completing Form 2201 – “Disability Tax Credit Certificate”, be it you or someone else doing it with or for you, fully understands all of the Canada Revenue Agency’s publications such as the “Disability Tax Credit Certificate” 6729, and Guide RC4064 – “Medical and Disability-Related Information” per www.cra.gc.ca/disability and Guide RC4064.
It is not that we want to scare anyone into not completing the required form by themselves,or by a relative or friend. We simply want to ensure you are aware that unlike many other businesses we are in existence because we have you in mind and at heart. We want you to have more in your life. We want to help you make more out of your life. It truly is with the best of intentions and for good reason that companies like ours, Disability Credit Consultants of Canada, are formed.
We dedicate ourselves to knowing everything there is to know about the Disability Tax Credit so that you do not have to.
It is our diligence and acumen for detail and our commitment to knowing all there is to know about the Disability Tax Credit that has earned us the trust of every single client we have ever helped. All the clients we have ever had return to us the next year and after, and many of them use us throughout the year for answers to their outstanding questions that they believe only we can answer for them.
To have your Disability Tax Credit questions answered call us, Disability Credit Consultants at 1-855-752-0288
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