Extended Health Benefits Frequently Not Included as a Deduction. Leaving hundreds of your refund unclaimed.

I spend a lot of time educating my clients about what is a Medical Expense that they can use that they haven't thought of. The most frequently overlooked is the Extended Health & Dental plans. SOMETIMES these show up on your T4, but more often than not the employer/payroll deducted plans only show on your paystubs.

There is a common misperception that if your Health Plan comes off your payroll it is not deductible, but the employee paid portion is. Companies sometimes will issue a letter stating the amount paid but that is rare, normally all you will receive is your paystubs and we can use either each paystub or the final one from the year to determine the total paid for the year. Often retirees get this type of expense deducted off a pension cheque and get a letter once a year that contains the amounts for their plans.

In many cases their former tax professional has not mentioned this to them, even though the health plan was obvious from their medical receipts or statements.

For many families this is the most common medical expense and can make the difference between having enough to claim and not (because 3% of your income is subtracted from your expenses like a deductible).

I have done adjustments for at least 6 clients recently for clients to claim this type of expense that has been overlooked for years. The average refund for these adjustments is at least $900-$1200 per family. Sometimes more if many years have gone by.

Adjustments can be made for up to 10 years. Contact us for a free review of your return. service@painfreetaxes.ca

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