(NC) If you or someone you care for has a disability, you know that the extra costs of medical care and living expenses add up. But did you know that you can get tax relief through the disability tax credit?
The credit was designed to reduce the amount of income tax people with disabilities or their supporting family members may have to pay.
This year, when filing a 2020 tax return, the disability tax credit that can be claimed for an adult is $8,576. If the person with the disability is a child under 18, they or their supporting family member can claim an additional supplement of up to $5,003.
This can do a lot to offset the extra costs related to having a disability or caring for someone who does.
Being eligible for the credit can also open doors to other government programs, such as the child disability benefit, the disability supplement of the Canada workers benefit, and the registered disability savings plan.
To claim the credit, just complete Part A of the T2201 Disability Tax Credit Certificate and have your medical practitioner complete and certify Part B of the form. You can submit a completed form to the Canada Revenue Agency any time during the year.
If approved, you can claim the credit for the years you are deemed eligible. An eligible person may even be able to claim the tax credit going back as far as ten years.
Find information on eligibility or download the application form at canada.ca/tax-credit-disability.