Medical Expense Tax Credit

by Tax Guy - Burlington Accountant on April 20, 2010 Print This Post Print This Post

If you have medical expenses for your spouse, dependent, and yourself, you can claim the medical expense tax credit.

The medical expense tax credit may claimed for any 12 month period ending in the tax year and is calculated as the total amount of medical expenses paid multiplied by the lowest tax rate (15% for 2009) in excess of the lesser of:

  • 3% of net income, or
  • the stated base amount ($2,011 for 2009).

Either spouse may claim the medical expense tax credit and therefore the lower income spouse should claim the medical expense credit if there is enough tax payable.

CRA Resources

  • Medical Expense and Disability Tax Credits and Attendant Care Expense Deduction

About The Tax Guy...

Dean Paley CGA CFP is a Burlington accountant and financial planner who services individuals and business owners locally, nationally and internationally. Dean has appeared in the National Post, Toronto Star and Metro News.

To find out more, visit Dean's website Dean Paley CGA CFP or connect via Twitter @DeanPaleyCGACFP.

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