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The Disability Tax Credit & What You Need To Know
Hey everyone!
My name is Karyn Inder and welcome to The Model Tongue Podcast. A podcast where we discuss all things mental health, mental illness, body positivity, self worth and the importance of finding your voice.
Welcome to the new year! Let’s start it off proactively by preparing for tax season :)
In this week’s episode, Noreen shares information regarding the Disability Tax Credit. If you experience mental illness and/or a mental disability, you may qualify for this tax credit. So, what is the DTC? The Disability Tax Credit(DTC)is a non-refundable tax credit that helps persons with disabilities or their supporting persons reduce the amount of income tax they may have to pay. In this episode, we break down everything you need to know, from how to apply to how to self advocate for yourself, we hope we can make something that can be overwhelming a little more manageable! Also, we’ve included some important links below and here is a Step-By-Step guide to applying!
Noreen’s Notes:
Step 1: download the form
Step 2: fill out the first page of the form (Part A) with your information
Step 3: print out entire doc with your info filled out
Step 4: Make an appointment to talk about the form with your doctor or nurse practitioner, give them the document to fill out - they have to
fill out Part B.
notes: - Not everything on page 2, 3 and 4 need to be filled out, only fill out what applies to the applicant.
- ALL of page 5 must be filled out by your Dr /nurse practitioner
Step 5: Send the form to the CRA (I recommend sending it via courier so you can confirm it was delivered). The address you send it to depends on where you live, see page 6 for the addresses.
Once you have sent it, you must wait for the CRA to respond and let you know their decision. This can take many months so be patient. They send a response via regular mail. If your application is denied, they
will explain why on the notice of determination and options to
challenge their decision.
If you are approved, then you are normally approved 3-5 years into the future so you don't have to reapply every year. I recommend that you choose yes on page 1, section 3 so that the CRA can adjust your taxes for previous years for you.
TAX CREDIT LINK:
https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t2201.html
FOR MORE INFO, VISIT CRA WEBSITE:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/segments/tax-credits-deducti ons-persons-disabilities/disability-tax-credit.html
HOW TO CLAIM ONCE APPROVED?:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/segments/tax-credits-deducti ons-persons-disabilities/disability-tax-credit.html#clm
REGISTERED DISABILITY SAVINGS PROGRAM:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/registered-disability-s avings-plan-rdsp.html
Source: Canada Revenue Agency
RMP Professional Services (accounting)
IG: @rmpps.ca
https://app.acuityscheduling.com/schedule.php?owner=16545414
Available on:
Spotify: https://open.spotify.com/show/53mK17VPzqdS9IbCFUbs4I
Itunes: https://podcasts.apple.com/ca/podcast/the-model-tongue/id1508822046
YouTube: https://www.youtube.com/channel/UCJQ5r88mzVoeRZ8jjpHLP9Q?view_as=subscriber
Connect with Karyn:
Instagram: @karyninderr
Youtube & Facebook: Karyn Inder
Twitter: @themodeltongue
Itunes & Spotify: The Model Tongue
Connect with Noreen:
Instagram: @ngoraya01
View all episodes
By Karyn InderHey everyone!
My name is Karyn Inder and welcome to The Model Tongue Podcast. A podcast where we discuss all things mental health, mental illness, body positivity, self worth and the importance of finding your voice.
Welcome to the new year! Let’s start it off proactively by preparing for tax season :)
In this week’s episode, Noreen shares information regarding the Disability Tax Credit. If you experience mental illness and/or a mental disability, you may qualify for this tax credit. So, what is the DTC? The Disability Tax Credit(DTC)is a non-refundable tax credit that helps persons with disabilities or their supporting persons reduce the amount of income tax they may have to pay. In this episode, we break down everything you need to know, from how to apply to how to self advocate for yourself, we hope we can make something that can be overwhelming a little more manageable! Also, we’ve included some important links below and here is a Step-By-Step guide to applying!
Noreen’s Notes:
Step 1: download the form
Step 2: fill out the first page of the form (Part A) with your information
Step 3: print out entire doc with your info filled out
Step 4: Make an appointment to talk about the form with your doctor or nurse practitioner, give them the document to fill out - they have to
fill out Part B.
notes: - Not everything on page 2, 3 and 4 need to be filled out, only fill out what applies to the applicant.
- ALL of page 5 must be filled out by your Dr /nurse practitioner
Step 5: Send the form to the CRA (I recommend sending it via courier so you can confirm it was delivered). The address you send it to depends on where you live, see page 6 for the addresses.
Once you have sent it, you must wait for the CRA to respond and let you know their decision. This can take many months so be patient. They send a response via regular mail. If your application is denied, they
will explain why on the notice of determination and options to
challenge their decision.
If you are approved, then you are normally approved 3-5 years into the future so you don't have to reapply every year. I recommend that you choose yes on page 1, section 3 so that the CRA can adjust your taxes for previous years for you.
TAX CREDIT LINK:
https://www.canada.ca/en/revenue-agency/services/forms-publications/forms/t2201.html
FOR MORE INFO, VISIT CRA WEBSITE:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/segments/tax-credits-deducti ons-persons-disabilities/disability-tax-credit.html
HOW TO CLAIM ONCE APPROVED?:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/segments/tax-credits-deducti ons-persons-disabilities/disability-tax-credit.html#clm
REGISTERED DISABILITY SAVINGS PROGRAM:
https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/registered-disability-s avings-plan-rdsp.html
Source: Canada Revenue Agency
RMP Professional Services (accounting)
IG: @rmpps.ca
https://app.acuityscheduling.com/schedule.php?owner=16545414
Available on:
Spotify: https://open.spotify.com/show/53mK17VPzqdS9IbCFUbs4I
Itunes: https://podcasts.apple.com/ca/podcast/the-model-tongue/id1508822046
YouTube: https://www.youtube.com/channel/UCJQ5r88mzVoeRZ8jjpHLP9Q?view_as=subscriber
Connect with Karyn:
Instagram: @karyninderr
Youtube & Facebook: Karyn Inder
Twitter: @themodeltongue
Itunes & Spotify: The Model Tongue
Connect with Noreen:
Instagram: @ngoraya01
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