# Deductible Medical Expenses from Income (Tax Return)



## downloadduckss (Aug 5, 2011)

Hi

I went on to the CRA website below, it indicated that taxpayers are allowed to deduct their medical expenses from income:
http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/ncm-tx/rtrn/cmpltng/ddctns/lns300-350/330/llwbl-eng.html

Does this mean we can deduct prescription drugs at the pharmacies? Also, do you think the Medical insurance paid by myself (net of credits provided by my employer) is deductible for tax purposes?

Many thanks!
DD


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## DanFo (Apr 9, 2011)

from what I read from the cra website and as far as I know..your private med insurance premiums are deductable as well as your prescription medication costs (less what your insurance premiums cover)


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## HaroldCrump (Jun 10, 2009)

I believe those deductions are useless unless they are > 3% of your gross income.


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## MoneyGal (Apr 24, 2009)

It's not a deduction, it's a non-refundable tax credit. 

There's a minimum but no maximum. 

Only expenses in excess of the lesser of $2,052 (Federal, for 2011, $2,024 for 2010) or 3% of net income can be claimed. 

The lowest tax rate - 15% - is applied to the medical expenses to determine the amount of the tax credit. It can only reduce your tax payable to zero but will not lead to a refund (hence "non-refundable tax credit").


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## atrp2biz (Sep 22, 2010)

How about PHSPs? Can one simply create an unincorporated sole proprietorship?

http://www.taxtips.ca/smallbusiness/phsp.htm


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## j8chan (Apr 5, 2009)

Has anyone been able to put laser eye procedure as a tax deduction?
Thanks in advance


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## Plugging Along (Jan 3, 2011)

^ Yes you can, as long as its over the 3%


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