The Medical Expense Tax Credit (METC) is a non-refundable tax credit that allows you to claim back a portion of your medical bills and health insurance costs as a tax credit. It's important to note that because it's a non-refundable tax credit, you can only use the...
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Tax 101
Tax Deductible Medical Expenses in Canada
When tax time comes, the last thing you want to do is miss out on beneficial refunds and credits, either for yourself or your business. When it comes to missed tax savings, medical expenses top the list. A long list of medical expenses are tax-deductible in...
Is Health Insurance a Taxable Benefit in Canada?
In 2017, per capita, healthcare spending in Canada came in at around $4,500, and the average life expectancy was 81.7 years that same year. Because there is no designated “healthcare tax,” it is hard to know exactly how much of our taxpayer money goes into healthcare...
6 Best Ways on How to Save Tax in Canada
Filing taxes is a stressful process for many Canadians. From collecting all the requisite paperwork to meeting deadlines, it can be tough to feel confident that you have done everything right. The process often feels even more daunting for those who are small business...