Get Money Back from the Canada Revenue Agency!
It's true. If you have a qualifying disability, you may very well be able to obtain tax credits from the Canada Revenue Agency. Many clients ask us: "once I've received my credit, what do I need to spend it on?"The answer is: anything you like! You are not required to spend the money on medical services, prescription drugs, disability aids, or anything of the sort. You may certainly choose to do so - and this can often be a wise use of funds - but it's not mandatory.
The purpose behind the disability tax credit is to enable disabled Canadians to sustain a quality of life comparable to their peers. Ultimately, the individual with a disability makes the choice as to how the funds are allocated.
That said, using our financial planning and tax expertise, we'll help you examine your options and suggest the optimal use of your tax credit dollars. The final decision is up to you - but we'll help you make an informed one.