003 - The Disability Tax Credit
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English - March 06, 2020 13:00 - 36 minutes - 25.3 MBHow To Education Self-Improvement aish disability tax credit guardianship trusteeship disability transition advocacy trust planning estate planning special needs children Homepage Download Google Podcasts Overcast Castro Pocket Casts RSS feed
Today's episode focuses on the Disability Tax Credit or the "DTC". It is run by the Federal government and the Canada Revenue Agency is the agency that receives applications and determines eligibility. The DTC is a credit against taxes owed. At first blush, it would not seem relevant to a disabled person because of low income levels and therefore little or not tax to be paid. However, access to federal programs is typically tied to the DTC. We discuss the importance of getting the DTC and keeping it.
Some useful links to further information relating to the DTC:
Government Website: https://www.canada.ca/en/revenue-agency/services/tax/individuals/segments/tax-credits-deductions-persons-disabilities/disability-tax-credit.html
Form T2201: https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t2201.html
Eligibility criteria: https://www.canada.ca/en/revenue-agency/services/tax/individuals/segments/tax-credits-deductions-persons-disabilities/information-medical-practitioners/eligibility-criteria-disability-tax-credit.html
Global News article: https://globalnews-ca.cdn.ampproject.org/c/s/globalnews.ca/news/6474047/canadians-disabilities-can-lose-tax-credit/amp/
Dr. Wayne McLeod's YouTube channel: https://www.youtube.com/channel/UCoIHSPnsEn4ERX_2rE6kkww