Disability Tax Credit

I called in to CRA yesterday and they let me know that I got approved, seems the letter got lost in the mail sometime ago. Mine was approved to 2019 (tax year), guess I'll have to reapply in 2020. Still happy as I'm getting the credit back to 2007. What is my next step when I get the official letter in the mail to claim all the back pay since 2007?

Also i've read here before that when you get DTC you should apply for RDSP? Where do I begin the process? Thanks for the help

Good for you navrat , your right , I know of a few people that also get it for life.

I have had mine for almost 16 years without review. In my decision it said approved for back dated 10 years and going forward. When I called they said mine was for life no reviews necessary

I can't remember how long it took either, but it wasn't nearly as long as getting a decision from VAC. What I don't understand about these government agencies, is why do we have keep resubmitting paperwork every few years? I mean, if a doctor tells them that your condition is permanent, that isn't going to change 5 years down the road. I think that the GoC needs to read the definition of permanent.

I am also TPI and got the DTC first time around within 4 months. I got a few years retro and a few more after. I think it's a standard formula they use for everyone. Once again wording is everything.

5 years is all ya get buds ya gotta renew after that.

propat

propat how long was your DTC granted for? how many years i was just renewed this summer but its only good for till 2020.


thanks in advance
Cheer's

ya Donnie got mine quite a while ago guessing 08 I was expecting 4 months and do remember it came in earlier than I thought but don't really recall how much earlier .

propat

johnny211 wrote:Hi DonnieD, got my FO letter from them today. I would say it was about 3 mths. That one is a tough nut to crack. I am TPI, and I know of only 1 Vet friend who has it, and he is pretty severe from Afgan. But you never know, good luck. Not sure if I will appeal,VVV...

Good to know, it's been almost 3 months and have heard absolutely nothing yet. I would be surprised if I didn't get it as I'm also TPI. Still I know its the government so anything is possible.

Hi DonnieD, got my FO letter from them today. I would say it was about 3 mths. That one is a tough nut to crack. I am TPI, and I know of only 1 Vet friend who has it, and he is pretty severe from Afgan. But you never know, good luck. Not sure if I will appeal,VVV...

I've sent in my application and doctor application 3 weeks ago, how long does it usually take for CRA to reply? I'm guessing months since it's the CRA and they have a backlog.

I do not pay taxes , lol.

note;

1,the amount they will put in will be braced on your income taken from past tax years .

2. they do not double tax your contributions when you start to make your withdrawals they will tax the GOC contributions and interest only not your contributions.

propat

Also an extra note. After you have been approved for the DTC you are able to access a RDSP. This allows you to put up to $9000.00 at first of after tax income and they will top it up to $30000.00, more if you qualify. You put in $1500 every year after and they top up to minimum of $3000.00 for the year. You must leave money place in here for a minimum of 10 years to avoid any penalties. At age 55 you must begin to withdraw money. This money is all taxable but they have given you over double your investments free with every dollar you put into the RDSP. This type of account can be self directed or fully managed. So you get double taxed on your I contributions then single taxed on the GOC' s investment. If you invest your money well you stand to make a large sum of money for a lot less taxes. I don't fully understand everything about this but my financial advisor highly recommended taking advantage of this. Finally a program that is not not designed to deter veterans from accessing it and will work for us not against us. Where else can you triple your money immediately and then invest it how you want.

Chimo

Paul

You are more than welcome.