So many people are leaving the money that is due to them in CRA’s hands beacuse they are not aware of what is available to them.
The Disability Tax Credit (DTC) can be worth over $4,000/year in tax credits for a family that has a child with a disabilty…why don’t they go through the process?
From what I have gathered from talking with my clients, the doctors are not fully aware of how to write up the information so that CRA can understand and approve the DTC.
The other issue is time…no one has enough of it. There are organizations that will help you with the DTC, most charge for the service.
Is it worth it? Is $4,000 back on your tax return every year worth it? Find the time! Ask friends and family to watch your disabled loved one to get this done!
Once that, sometimes painful, process is complete, onto the next money collecting process.
The Registered Disability Savings Plan (RDSP) has up to $4,500/yr available to those who qualify for the DTC.
Why does only 14% of CDNs that qualify for the RDSP have one…because no one talks about it because very few understand it.
All but a handful of my clients already had the DTC. All the others, I asked questions to see if they qualified for the DTC. I have had bi-lateral amputees, people with MS and diabetes, and those missing an arm or leg from birth not even know that they would get such a thing as the DTC. All consider themselves not to have a disability. They are right, they are very “able” to do most everything that the rest of the so-called “able bodied” people can do, however, there are some aspects of their life that need extra attention.
That means that there could be over $8,000 cash sitting in the federal coffers just waiting for your friends and family with a qualifying disability to take it, every year!
What are you waiting for?! Contact someone that you trust to get this stuff done!
Lots of people say: “The rich have the resources to find out about these things to take advantage of tax loop holes, etc” Well, now you are rich, with this information to help yourself or someone you love get this into the right hands.