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Save on your taxes. PSHCP and PDSP

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Re: Save on your taxes. PSHCP and PDSP

Post by propat on Wed 28 Mar 2018, 22:14

yes great point I was assuming you were doing these year for year but if you were planning on doing them in one calendar year I strongly suggest you do not. do an adjustment for each year instead . here is the link to all the info you need .

https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/change-your-return.html

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Re: Save on your taxes. PSHCP and PDSP

Post by MarieH on Wed 28 Mar 2018, 21:30

Also note that starting this year (2017 t4a) they are now on your t4a on a new box on both federal and provincial , so make sure you dont claim twice, for the federal t4a there are on box 135. this include both the PSHCP and dental plan. Thats the reason they did not sent us a letter this year wrt our paid premium. and Teetitan is right your can only claim on 12 calendar months

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Re: Save on your taxes. PSHCP and PDSP

Post by Teentitan on Wed 28 Mar 2018, 21:09

Actually if you want an automatic audit by Rev Canada DO NOT claim 10 years of monthly health care premiums in one year. You have to redo your taxes from each year.

Any health care costs you claim on federal taxes, and provincial, is only for 12 calendar months.

So here is a suggestion to get an idea if all the work is worth it. If you do your own taxes include the monthly premiums for the one year and see what your return is. Then remove it and recalculate the amount to see how much the difference is. This should give you a ballpark of how much of a return you would get.

Ofcourse to make sure call Rev Canada or google it to find out what to do.
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Re: Save on your taxes. PSHCP and PDSP

Post by propat on Wed 28 Mar 2018, 17:38

oh I suppose you know but just a reminder to carry them over to your provincial form as well.

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Re: Save on your taxes. PSHCP and PDSP

Post by propat on Wed 28 Mar 2018, 17:36

hey buds ya think its 330 on your schedule 1 . they are valid medical expenses .

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Save on your taxes. PSHCP and PDSP

Post by abetterway on Wed 28 Mar 2018, 15:12

I am claiming the public service health care plan and dental plan duse for the last 10, years. Does anyone know .... on what line on the tax form i enter these cost.?

Cheers sunny sunny

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Re: Save on your taxes. PSHCP and PDSP

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