DTC is a program that was established for people who are challenged either mentally or physically. The initiative was to strike a balance between the physically challenged and normal people. One of the canons of taxation is equality. Equality cannot be achieved if normal people and disabled people use the same tax rates. This is the reason why disability tax credit Canada was established.
DTC is usually no-refundable tax entitled only to people who are challenged in one way or the other. People who have experienced prolonged impairment are the one at a better position to qualify for DTC. For a person to qualify for registered saving plan for disability, they must first be eligible for DTC. There is another benefit known as working revenue or income levy benefit that people who have qualified for DTC are entitled to.
An individual who has been paying tax for some years, they can claim a refund of their money once they are found eligible for this DTC. This amount may include supplement for individuals who are under eighteen years of age. The reason for this DTC is because of the fact that these people usually incur extra expenses in their daily lives as compared to other people.
The purpose of DTC is to offer for greater levy equity by simply allowing relief for disability expenditure. Being eligible for DTC can basically open doors to many other federal, territorial and provincial programs such as working income tax benefit, registered disability plan for saving and not forgetting child disability benefit.
The major reason to come up with DTC is to offer higher tax equity hence allowing reprieve for disability cost. There are quite a number of doors that can open once a person becomes eligible for DTC. But before you even think of DTC, you have to see a medical expert or practitioner to examine you and prove that you are actually disabled. Failure to seeing a doctor you risk not being qualified.
A person starts by downloading DTC form which is referred to as T2201. Depending on your level of disability, one is advised to take their T2201 form to a family doctor, audiologist, optometrist, occupational therapist, language pathologist, speech pathologist, physiotherapist among other medical practitioners.
The refunds are quite important for people who qualify since they can receive up to $25000 in lump sum. They are also entitled to $2,500 annually for current and also future tax years. There are several conditions that qualify a person for such a benefit. If a person has problems with their walking that is they have hip problems, knee problems, poor circulation, Osteoarthritis or foot disorders then can easily get DTC.
In case you are not in agreement with what the doctor has written, then you are at liberty to seek the services of another doctor. The benefits of DTC include, being able to claim your previous years credit, future savings, getting additional supplements and benefiting from RDSP.
DTC is usually no-refundable tax entitled only to people who are challenged in one way or the other. People who have experienced prolonged impairment are the one at a better position to qualify for DTC. For a person to qualify for registered saving plan for disability, they must first be eligible for DTC. There is another benefit known as working revenue or income levy benefit that people who have qualified for DTC are entitled to.
An individual who has been paying tax for some years, they can claim a refund of their money once they are found eligible for this DTC. This amount may include supplement for individuals who are under eighteen years of age. The reason for this DTC is because of the fact that these people usually incur extra expenses in their daily lives as compared to other people.
The purpose of DTC is to offer for greater levy equity by simply allowing relief for disability expenditure. Being eligible for DTC can basically open doors to many other federal, territorial and provincial programs such as working income tax benefit, registered disability plan for saving and not forgetting child disability benefit.
The major reason to come up with DTC is to offer higher tax equity hence allowing reprieve for disability cost. There are quite a number of doors that can open once a person becomes eligible for DTC. But before you even think of DTC, you have to see a medical expert or practitioner to examine you and prove that you are actually disabled. Failure to seeing a doctor you risk not being qualified.
A person starts by downloading DTC form which is referred to as T2201. Depending on your level of disability, one is advised to take their T2201 form to a family doctor, audiologist, optometrist, occupational therapist, language pathologist, speech pathologist, physiotherapist among other medical practitioners.
The refunds are quite important for people who qualify since they can receive up to $25000 in lump sum. They are also entitled to $2,500 annually for current and also future tax years. There are several conditions that qualify a person for such a benefit. If a person has problems with their walking that is they have hip problems, knee problems, poor circulation, Osteoarthritis or foot disorders then can easily get DTC.
In case you are not in agreement with what the doctor has written, then you are at liberty to seek the services of another doctor. The benefits of DTC include, being able to claim your previous years credit, future savings, getting additional supplements and benefiting from RDSP.
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To help you apply for disability tax credit Canada support services are at your disposal. Come and review the online information at http://firstsupport.ca and find out whether you're eligible today.
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