𝐖𝐡𝐚𝐭 𝐭𝐨 𝐝𝐨 𝐚𝐟𝐭𝐞𝐫 𝐲𝐨𝐮𝐫 𝐃𝐢𝐬𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐓𝐚𝐱 𝐂𝐫𝐞𝐝𝐢𝐭 𝐡𝐚𝐬 𝐛𝐞𝐞𝐧 𝐚𝐩𝐩𝐫𝐨𝐯𝐞𝐝.

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  • Опубліковано 9 лют 2025
  • Annual Tax Filing and what to do going forward on your income tax return:
    ....Now that the Credit is approved and the past credit has been received what do we need to do on a forward basis.
    ....The annual tax filing does not need to be complicated however you will need to make a change from what you were doing prior to your tax filing.
    Again this is where you may want to involve a tax professional and make them aware of your new changes to your family situation.
    To claim the disability amount for yourself:
    ....The maximum amount in 2019 is $8,416. This number will increase with inflation. Complete the worksheet for Schedule 1 and then enter the amount ton Schedule 1 which is basically the summary of all non-refundable Federal tax credits onto line 316.
    ....There is also a provincial credit. You will need to complete the worksheet provincially and the amount will be claimed on the Provincial Tax and Credits form.
    If you are in Ontario that will be ON428 if Sask if will be SK428. The amount is going to vary between provinces.

КОМЕНТАРІ • 12

  • @candi-qy6bk
    @candi-qy6bk Рік тому +1

    on this Disability tax credit, if I get my taxes for the 10 years reassessed by the CRA and I only worked two years out of the 10 years can I still transfer those credits over to a supporting person my family does 8 years I did not work

  • @shadowwolfblackout
    @shadowwolfblackout 9 місяців тому

    i was approved but now no clue what to do next and doctor has me disabilty since i was born and i did my tax threw turbotax and there was a section i click yes on being first time for DTC and i never once payed taxes doing my taxes always did them free soo no clue what to do no mail nothing from cra and no clue if i be getting disabilty check each month or what and cant find anywhere when pay dates come out for DTC to everyone

  • @sadgalriri
    @sadgalriri 3 роки тому +1

    i was recently approved. it only takes 8 weeks for the retroactive payment???? i thought it doesn’t come until next tax season

    • @tazztower44
      @tazztower44 3 роки тому

      how did you make out? i was approved today for LST because of type 1 diabetes,they are giving me retro as well

  • @Lakeboii70
    @Lakeboii70 3 роки тому

    The file form in which they require you to fill out will be looked at by your doctor and your doctor will decide if he will say yes or no to it most doctors say no

    • @precedenceprivatewealth2872
      @precedenceprivatewealth2872  3 роки тому +1

      The disability tax credit for 2021 is $8,662 for those over age 18. If you do not use your full credit it can be transferred to a spouse if you have one. CRA will back date the approval of the Disability Tax Credit and complete the T1 Adjustments if applicable. The Credit would not affect your AGI. Please keep in mind your USA status may add a level of complication that should be consulted by a tax specialist. Hope this helps!

  • @Lakeboii70
    @Lakeboii70 3 роки тому +1

    Why don’t you tell the people who cannot get this disability tax credit

  • @Tattedeuc
    @Tattedeuc 2 роки тому +1

    Do you have a email or cell number lots of questions from Calgary!