It is one of the most under-utilized tax credit benefits offered by the Canadian tax system.
It is estimated that less than half of the individuals who may qualify for the DTC are currently claiming the tax credit. People often believe that only severe disabilities and injuries can qualify, but this is not the case.
The average Swift client receives more than $10,000 in refunds from the Canada Revenue Agency from overpaying taxes in previous years.
Individuals and families can receive more than $45,000 in refunds depending on the province they live in, how long they have suffered, and their taxable income.
The application process can be very difficult to navigate.
Retroactive Refund Retroactive Refund Individuals who have suffered from a health condition in previous tax years, but have not yet gained approval for the DTC, are able to claim a tax adjustment to claim the tax credits they missed out on. We can do an adjustment going back up to 10 years, which can result in up to $45,000 in refunds. 1
Future Savings Once approved, tax-paying households can save up to $4,500 in taxes paid annually. In addition to the retroactive fund, DTC eligibility is a prerequisite for other programs such as the Canada Disability Benefit, Canada Worker’s Benefit, and the Registered Disability Savings Plan (RDSP). 2
You can still qualify! Many individuals who don’t work still pay taxes (disability payments from their employer, pension income). Additionally, in many cases, we are able to transfer credits to a spouse or family member in the instance that the individual with the disability does not pay taxes.
Yes! As long as the individual has been deceased for less than 10 years.
Yes! Give us a call.
The simple answer is yes. In order to receive a refund, however, you or your spouse need to have been paying taxes in previous years. Just because individuals aren’t working does not mean they haven’t paid taxes.
Paying taxes means any contribution to the CRA as a result of earning income. Individuals who earn working wages, pension income, RRSP income, disability income, and dividend or investment income are some examples that will typically result in paying taxes.
Many people are denied on their first or even second attempts. Often when individuals apply on their own, they are denied as they don’t understand the “tricks” to a successful application.
We have a strong track record of getting previously denied individuals approved.