It's Tax Time! A Quick Look At Disability Issues And TaxationWell folks, the clock is ticking. The end of April is drawing near, which means it's time to dig out those receipts, dust off the calculator, sharpen those pencils, and get down to business. Yes, that's right, it's time to complete your income tax return. What follows is a couple of general suggestions, and some pointers for those who want further information. Please note that I am not a financial advisor, and I have no special knowledge with respect to taxation or related matters, so consider this article as a place to begin before moving on to a proper consultation with Revenue Canada or a professional tax advisor. It is worth noting that Revenue Canada has information that specifically addresses some items of interest to those with disabilities. See http://www.rc.gc.ca/menu/EmenuGNR.html. (I am disappointed to see that they continue to utilize PDF files as the sole option for download in some cases, because PDF is still unreadarable for many internet users. They should provide an html and/or plain text alternative whenever possible). For those with patience, you can always go the hardcopy route. You can find the numbers you need to order these guides at http://www.rc.gc.ca/~paulb/tel/tso.htm. A simple tax tip that applies to many people is to file a return even if your income is non-taxable. If you are in receipt of some form of social assistance/income supports and do not have any taxable income, you may still want to file a return so that you have the opportunity to claim the GST/HST credit. You may also be able to claim some provincial tax credits, the new Canada Child Benefit, or qualify for other programs specific to your province. Also, it is worth noting that it is not always a case of now or never...you can make claims for previous years, in some cases all the way back to 1985! If you discover that you have been missing out on a deduction that you could have been claiming in years gone by, you may be able to file a retroactive claim. You may wish to consult the Spring 1999 issue of Abilities Magazine, which features many more tips in addition to the brief selection that appears here. For even more detail, ARCH, A Legal Resource Centre for Persons with Disabilities offers specialized assistance with respect to taxation and other issues.
The copyright of the article It's Tax Time! A Quick Look At Disability Issues And Taxation in Special Needs Issues is owned by Keenan Wellar. Permission to republish It's Tax Time! A Quick Look At Disability Issues And Taxation in print or online must be granted by the author in writing.
Go To Page: 1 Articles in this Topic Discussions in this Topic |