What is the Disability Tax Credit (DTC)?
Due the number of Canadians living with a disability, the Canadian government attempts to help these citizens through the Disability Tax Credit. This program was introduced in 1988 as a non-refundable tax credit. With this credit, qualified individuals can lower their taxable income considerably, sometimes down to zero. For those who are minors and qualify for the Disability Tax Credit, the credit can be transferred to the parent or legal guardian.
So why does the Canadian government offer a credit that may be as much as $35,000? It’s because they understand that individuals with disabilities are faced with additional expenses that can lead to a severe financial disadvantage. The Canadian government will only give this tax credit to those who suffer severe and prolonged impairment in physical mental function, as this impairment often keeps the individual from performing their normal day to day activities.
Given the up to $35,000 credit, it may be surprising that a lot of Canadians who qualify for the disability tax credit do not pursue it. Why? Either because they do not know that their disability qualifies, are overwhelmed by the application process, or simply don’t know about the tax credit at all.
Capital Disability Benefits seeks to educate disabled individuals on the disability tax credit and to help them achieve the maximum benefit. We go to work for you to ensure you receive the money you need to live a normal, comfortable life despite your disability.
Will My Current Job Or Salary Be Affected By The Disability Tax Credit?
No. The Canadian government currently allows those who claim the disability tax credit to continue to work and earn as much as is possible.
Who Qualifies For The Disability Tax Credit?
To qualify for the Canadian Disability Tax Credit, the individual must be disabled with a “severe and prolonged impairment in physical or mental functions.” Capital Disability Benefits can help you to qualify for this credit if you suffer from any of the following disabilities:
- Trouble Walking
- Parkinson’s Disease
- Cerebral Palsy
- Downs Syndrome
- Alzheimer’s Disease
- And many more
The list of disabilities which qualify for the Canadian disability tax credit is constantly growing. Take a look at our much more extensive disability list here. Contact Capital Disability Benefits today to get the money you deserve.