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:
https://ivf.ca/forums...lity-treatment/
Thanks very much.