Tax

The spouse with the lower income should claim all medical expenses on their tax return

The lower-income spouse should report all the family's medical expenses for Canadian Income Tax. The less your net income, the higher the amount of eligible medical expenses you can claim.

However, since the tax credit is non-refundable, the spouse claiming the credit should have enough income to use the entire credit.

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Ensure accurate tax reporting and compliance with our comprehensive services, covering T1 Personal Tax Returns for businesses, contractors, real estate investors, individuals, non-profits, and foreign income reporting, along with T2 Corporate Tax Returns, GST Returns, T4 and T5 Filings, and Payroll Management. Get in touch with me to discover strategies

Restricted Stock Units (RSUs) - tax implications for Canadian employees

Explore the tax implications of Restricted Stock Units (RSUs) for Canadian employees, from grant to sale, including taxable benefits, withholding taxes, and reporting requirements.

Important Tax Reminder for Teens: Understanding Your Filing Obligations

Discover the tax obligations teenagers face in Canada, including filing requirements and exemptions for various income sources. Gain insights on navigating their first tax return with ease.

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