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Old 04-17-2012, 01:08 AM   #2203
Jacks
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Quote:
Originally Posted by Dion View Post
You can claim the MRI as a medical expense on your tax return.
You can but you have to have spent a LOT of money on health in one year for it to make any difference. I can't remember the exact numbers but it is many thousands of dollars.

Edit: Quick Google
http://www.taxtips.ca/filing/medical...etaxcredit.htm
Quote:
Medical expenses for the taxpayer, the taxpayer's spouse or common-law partner, and dependent children under 18 are claimed on line 330 of the federal tax return. Only expenses in excess of the lesser of $2,052 (Federal, for 2011, $2,109 for 2012) or 3% of net income can be claimed. The lowest tax rate is applied to the medical expenses to determine the amount of the tax credit.
So if you made 60K you could only claim expenses in excess of $1800 and even then it would be a non refundable credit. Say you spent $2000, you would get a tax credit of $200 which at the lowest tax rate would be $30?

Last edited by Jacks; 04-17-2012 at 01:17 AM.
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