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Medical Expense Tax Credit


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#1 Highest hopes

Highest hopes
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Posted 10 April 2017 - 12:41 PM

Hello,

 

Wondering about the new tax law that allows for non-medically necessary fertility treatments to be written off going back 10 years:

 

"This measure will apply to the 2017 and subsequent taxation years. A taxpayer will
be entitled to elect in a year for this measure to apply for any of the immediately
preceding ten taxation years in their return of income in respect of the year."

http://www.budget.gc...les-2017-en.pdf

 

I'm not clear on what it means where it says "A taxpayer will be entitled to elect in a year for this measure"...

Does this mean you choose 1 year to account for everything paid in the 10 year period?

 

For the  preceding 10 year period, does it mean 2007-2016?

 

If I paid for a 3 cycle package in 2006, but one of the cycles took place in 2007, could I claim that portion (one-third) for 2007?

 

I realize these may be questions for an accountant not a lawyer, so I have also posted here:

http://ivf.ca/forums...lity-treatment/

 

Thanks very much.


Dx: Age (40+) & Endometriosis & Tubal & DNA fragmentation

IUI & IVF & FET = BFN
Pinterest.com/aquablueglow


#2 schlepp

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Posted 10 April 2017 - 05:45 PM

I think you would want to follow up with an accountant, versus lawyer. It would be worth it as you have to refile the tax returns for that period. I'm sure it would be worth it financially to get some help. You could even ask someone that does bookkeeping. 


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#3 Highest hopes

Highest hopes
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  • Gender:Female
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Posted 10 April 2017 - 08:44 PM

For sure, just trying to gather any info that I can to start with.

Thanks


  • Real3D likes this
Dx: Age (40+) & Endometriosis & Tubal & DNA fragmentation

IUI & IVF & FET = BFN
Pinterest.com/aquablueglow