If you are living in Toronto and have suffered some form of disability, you need to get in touch with a?Toronto tax consultant?to learn more about the disability tax credit in Toronto and other cities in Canada. There are many people in Canada who still do not know the difference between gross and net income or, for that matter, between support programs sponsored by the government and their impact on taxes.
People who are living with some kind of disability must know what is available to them. People who have suffered with head trauma get additional benefits. Disability Tax Credit?that come in the shape of benefits in Toronto are mainly to help people who are earning their income to reduce the burden of taxes. A?Toronto tax consultant?will be able to inform you on how?government Disability Tax Credit?programs ?help support people who are unable to work due to a disability.
A??tax consultant will help you ?process your application for CPP Disability Program. He or she will also be able to get you some Disability Tax Credit?relief in Toronto. The biggest relief medium is Canada’s Disability Tax Credit Certificate. It is Form T2201. This application will help you bring down the tax load if you have any disability as a result of an accident or severe illness and you are not able to work and earn above the basic levels of personal exemption. A point to be noted is that CPP disability gets taxed. You may not be employed or you may be working minimally but you will still be eligible to pay your taxes.
As a disabled person in Toronto, if you are earning very little or nothing at all, the tax credit may not apply to you. In this case, ?your spouse or partner as per law or your caregiver ?can use the tax credit for disability to get tax relief. There is another option where a?Toronto tax consultant ?would be able to advise you. ?Both you and the support person can use the tax credit for disability if you are in a position to earn enough to be require on some ?but not all of the credit. The support person can then use the portion you are not using.
The?Toronto tax consultant ?would guide you to consult your general practitioner in helping you to fill out basic data on Form T2201. It is your general physician who would be able to provide all the technical details concerning your disability. This form cannot be mailed in the same envelop along with your tax returns in Toronto. It has to be sent separately. It takes about three to four months to hear from the Agency. Medical and disability expenses can be claimed when they are at least three per cent of the net income. All medical expenses are not deemed eligible. Vitamins and mineral supplements are excluded. There is a probability that you will also be able to apply for GST or HST credits.