The Disability Tax Credit (DTC) is a tax credit provided by the Canada Revenue Agency for people who are living with a medical condition that significantly impacts their ability to perform basic everyday activities or requires them to spend at least 14 hours per week on life-sustaining therapy.
Particularly for diabetics, this can include activities related to monitoring and treating your condition, such as testing your blood sugar levels, administering insulin injections, or maintaining a log.
Barbara Mentus is a renowned specialist in the Disability Tax Credit program and founder of Count Smart Medical & Disability Refund Specialists. She answers some of the most common questions about how the disability tax credit program can help people with diabetes in Canada.
Can caregivers for individuals with diabetes also benefit from the Disability Tax Credit?
Yes, the Disability Tax Credit can be claimed by the person with diabetes or their caregiver. Barbara’s advice for diabetics and their caregivers is if you believe you are eligible for the Disability Tax Credit, you should seek guidance from a qualified healthcare provider or an accountant specializing in the disability tax credit program. These professionals can help ensure that all necessary documentation is included and that your application is completed correctly, providing the best chance of success. The DTC can provide financial relief and peace of mind, allowing you to focus on getting or providing the care and support needed.
Are there any potential drawbacks or considerations for individuals with diabetes applying for the Disability Tax Credit?
Barbara assures you that applying for the Disability Tax Credit has absolutely no repercussions on any other benefits.
The refunds are generated by taxes that you have paid or a family member has paid and do not have to be claimed as income with exception of any refund interest you may receive which in most cases in very minimal. What people don’t understand is that you are recovering your own money you have paid in taxes.
The application process for the DTC is quite complex, because there are many variables that could render an application denied if it is not done correctly. With many years experience in this field, Barbara and her team do what they do best.
What resources are available for individuals with diabetes seeking more information about the Disability Tax Credit?
For more information about the Disability Tax Credit and its application process, Barbara says you can start by contacting the tax professionals at Count Smart. The Canada Revenue Agency’s website explains the program in detail as well as provides the eligibility criteria. If you are looking for resources and support for living with diabetes, your local chapter of the Canadian Diabetes Association is a great place to start.
How can the Disability Tax Credit alleviate financial stress for individuals with diabetes and their caregivers?
Barbara knows that managing your diabetes can be time-consuming and expensive, and the financial burden is stressful. The Disability Tax Credit can alleviate some of this financial stress by providing significant tax savings, helping to offset some of the costs you incur. If you are living with diabetes or caring for someone who is, the DTC can provide peace of mind, allowing you to focus on your health.
Barbara highlights the significant financial relief the DTC can provide for individuals living with diabetes. The tax credit helps mitigate the expenses associated with managing diabetes, offering peace of mind and the ability to focus on your health. It is crucial for individuals and caregivers to consult qualified healthcare providers or tax professionals for guidance in accurately completing the application process for the disability tax credit program. The DTC not only provides financial assistance but also reinforces the support available to individuals with diabetes and their caregivers in effectively managing this chronic condition. Contact Barbara and her team at Count Smart to get answers to all your questions about the disability tax credit program.