Disability Tax Credit

DCHD, yes you can apply for a Disability Tax Credit. You can download the form at Service Canada website and bring into a local office or they will have copies for you there. Your doctor needs to complete the form and charges a nominal fee for doing it. If approved the DTC, you will get tax relief from a portion of your taxable income for the current year and determinant how far back the DTC will go. I understand 10 years maximum.

Sparrow

Are you talking about the tax credit for when you do your income tax? If so yes.

Tax credits

So it may be possible to get tax credits if you have VAC pension and or LTD from SISIP???

Yes thanks Propat. Got my back Jack!

Sparrow

now remember you dont have to be on cppd to get the tax credit.

propat

Thanks Bolt, the other important fact is that if approved the CTC for this current year and backwards, it will help offset the taxes from the settlement whether you take it in one lump sum or the other option which I am unclear of yet so I can not comment for certainty but definitely apply.

Sparrow

A couple of years ago I applied for and received the Canada Disability Tax Credit as a result of having a CPP-D benefits. The reason I mention this is that a lot of former CF mbrs I've spoken to about this tax credit weren't aware that they could possibly be entitled to it as well.

They ended up going back 10 years (the maximum they'll go back). I didn't get a big chunk of cash back but a respectable amount all the same.

So if anyone has a CPP-D or VAC benefits, it wouldn't hurt to look into as you never know, you may be entitled to some type of a tax credit in the form of a cheque.

Just for discussion sake, I ended up getting the Tax Credit just from submitting my med info on PTSD.

Some doctors are jerks when asking them to submit the forms as they believe you should be in a wheelchair in order to get it but that's not the case at all.

Food for thought folks.

Thanks guys for the assistance.

correction it is under the "notices" section,

Re: CPP Disability and additional income or taxable deductions, posted 17 august 2012

they would when approved back date to the date of injury,

if it happens to be 10 years then the doctor just has to state that for you,

then from this date forward your dtc expires at the end of every five years, they will not send a renewal to you, but your accountant or the person who does your taxes will need at least four to six months for the turn around within cra to process the application renewal. It will be back dated to the end of the last one if you forget to have it ready for each taxation year.

each tax year that it is in effect, it gives you a written tax write off, last years amount was in excess of $7K for the deduction. If i remember it is a non refundable tax credit,

I wrote more on this about six months ago in august under the veteran help section i believe,

hope this helps

rcn im not sure about their internal prosses but when it is compleat they will send you a letter stating if you have it ore not.if you are not accepted you can appel.if you get it then you can claim it on your taxes.it also qualifies you for the disability savings plan witch in my mind is huge but you need to be under 50 years of age to take advantage.

propat

Does anyone know how the DTC works, my doctor recently completed the CRA forms and submitted them due to my prolonged disability. Now I don't know what the process or any benefit to me for having this done. Any enlightenment on this subject will be appreciated.

Many will already know this, but I thought I would give it a go regardless, maybe it may help one person at least. Not sure if you know but the Disability Tax Credit is available to all disabled Veterans, and the CRA will backdate it to whatever year your doctor specifies you began being disabled. The CRA then reassesses your tax years back to the date of disabled. Up to a maximum I believe is 10-12 years. I'd have to confirm the amount of years they retro it. I just recieved notice from another Vet I advised of this. His average refund will be around $1500-$2000 per year. They also cut him a cheque for $14,000.00+ Just got the call today from his wife. What a nice Christmas present. Anyway please everyone have a safe holiday season...best wishes for the upcoming year ahead...now its time to go eat some of Santa's cookies!!!

Supreme out