The Gateway:  Maximizing the Impact of the Disability Tax Credit

In addition to reducing income tax through a non-refundable credit, the Disability Tax Credit (DTC) serves as a gateway to a wide range of additional tax benefits and government programs. Eligibility for the DTC can unlock enhanced credits, financial supplements, and long-term savings opportunities that go well beyond the tax return. Understanding how the DTC connects to these broader supports is essential for maximizing financial stability—both for individuals living with disabilities and the family members who support them.  Unfortunately, many taxpayers miss this credit and their tax and financial advisors can certainly help when this happens.

Bill C31, an Act to implement certain provisions of the budget tabled in Parliament on February 11, 2014 and other measures, received Royal Assent on June 19.

Delivering on a promise made in the Economic Action Plan 2014, Finance Minister Joe Oliver announced that the Government of Canada secured voluntary commitments from the country’s eight largest banks to provide low-cost or no-cost bank accounts to low income Canadians by January 15, 2015.

Judges are forced to apply the law as it reads, but fortunately for taxpayers there is sometimes room for interpretation.

Should taxpayers be able to deduct travel expenses to warmer climates as medical expense tax credits (METCs) to alleviate pain and suffering?

Your refund can grow by up to $75 with this federal tax credit.

A special rule applies to claiming medical expenses when a taxpayer dies.