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Practical Insights for Busy Caregivers

Most Canadian caregivers are paying too much tax. Here’s how to remedy that

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September 10, 2018, by CaregiverExchange.ca

According to a recent article in The Globe and Mail, more than 85 per cent of family caregivers are leaving money on the table in possible tax breaks that could ease their financial burden. “Despite several tax credits available for those Canadians who financially contribute to the care of a loved one due to illness or advanced age, 43 per cent of caregivers stated they are not aware they exist, and only 12 per cent have ever used them.”
 
The article goes on to suggest why that might be and describe 4 tax credits available to caregivers.
 
  • Canada caregiver credit
  • Disability tax credit
  • Home accessibility tax credit
  • Medical expense tax credit
 
You can find agencies that provide tax information and services in your part of Ontario by going to your local thehealthline.ca and typing “tax” in the search box.