Claiming Medical Expenses: Free Healthcare?

Free Health Care? Did you know that Canadians spend on average more than $1,000 on medical expenses each year? It’s estimated that government programs, via our taxes, cover about 72% of medical expenses, which means that we pay for the rest. Your clients may be over-paying on their taxes because they don’t know about medical expense deductions. 

New data shows that tracking gender pay gaps is not a priority for Canadian businesses, despite government efforts to bring the issue to the forefront.

The Distinguished Advisor Conference (DAC) was the best yet in its 15-year history, held in Quebec City last week. Not only were the educational sessions delivered by Canada’s top thought leaders in tax and wealth planning issues; the networking was outstanding. Check out our picture gallery (coming soon!) and this glimpse of comments from those who were there:

Year-end can be a particularly difficult time for those who have lost a loved one during the year. But it’s important to see a tax specialist when someone in the family dies, to file any tax returns that may be outstanding on time, adjust prior-filed returns, and to claim specific tax benefits that can help to pay for end-of-life costs.

How much income do Canadians think they need annually to lead a comfortable life and how realistic is it? According to a poll by Edward Jones, it’s a figure that’s over $250,000—one that could grow as interest rates and the needs of the elderly continue to rise. It’s a topic that created a vibrant conversation at the Distinguished Advisor Conference which concluded yesterday in Quebec City.

Cannabis problems at work? It’s one grey area that remains following Canada’s recent marijuana legalization, and employers need to know their obligations with regard to accommodating employees with addictions. Lawyer Philippe Richer weighs in on this important employment issue, which he says is the single largest area of potential liability for businesses.

New data shows just how many Canadians lack access to federal benefits they’re eligible to receive. This was a topic of discussion with Pierre Labbee, an outreach manager for the Canada Education Savings Program at the recent Distinguished Advisor Conference. But now an annual benefit review of the Canada Child Benefit reveals that this benefit in particular is underused, despite it being accessible to millions, and one of the reasons is a difficult relationship with the CRA.