Your quality of life can be greatly impacted by having a chronic illness, and unfortunately, a significant number of Canadians suffer from a chronic condition. They frequently deal with the stress of managing their diagnosis, treatment, and associated expenses.
To find out if any of the costs associated with living with a chronic disease qualify for tax credits, you and your loved ones should think about speaking with a professional during tax season. In some cases, caregivers are also eligible for some of the benefits.
Keep in mind that you can qualify for the following:
• Expenses related to traveling, such as using public transit if necessary, to receive medical care or services that are unavailable near your house.
• Transportation costs, lodging, or food.
• Expenses associated with the setup or use of specific medical devices, like dialysis machines.
• Explore additional benefits or credits, such as the Home Accessibility Tax Credit, the Canada Caregiver Credit, the Registered Disability Savings Plan, the Canada Disability Benefit, and others, that might be very helpful to you.
• Keep every receipt, especially if you are uncertain of what you might need for your claims.
Speaking with a tax expert is strongly advised because each situation is unique.
It is recommended to begin the process as soon as possible because you might need to complete extra paperwork or get certificates of verification, particularly if this is your first year of considering these benefits.
Learn more at: https://newscanada.com/en/Have-a-chronic-condition–Don-t-miss-these-tax-benefits-140165
Reference: https://newscanada.com/
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