Most parents not only urge their kids to do chores, or to get out of bed and get on with their day. They also encourage them to make responsible choices and take action to get what they want. The same holds true for enjoying a tricky federal tax credit many don’t know about.
A little context will help. The Canadian income tax system is what’s called a “self-assessment” process. This means people figure out what amount of tax they should pay, and submit the right numbers on the proper forms to the tax people. Aside from some online information and guidance, the government doesn’t go out of its way to help.
You are entirely responsible for your own tax return. Most significantly, this means you – not the government – must find your own tax breaks and savings.
The CRA does a good job of providing useful information about all aspects of taxation. The CRA however is under no obligation, legal or otherwise, to contact you with advice on what you should do. You, or your tax professional, are responsible for knowing the nooks and crannies of the system, taking advantage of them, and squeezing out whatever tax deductions or credits apply to you.
There’s nothing wrong with the CRA’s approach. It’s part of living in a free and modern state. Personal responsibility is a keystone of being a citizen.
The first step however is to know about a highly beneficial rule, called the ‘disability tax credit’ (DTC).
Basically, the DTC applies where you are challenged by one of the basic human functions (seeing, thinking, walking, and so on). If you qualify, the DTC can lessen your taxes by more than $1,000 for each year the disability is serious enough. And because the rules let you claim for up to 10 years in the past, a sizable amount of money is at stake.
Enabled Financial Solutions Ltd. (EFS) is well-positioned to help. Founded in 2003 by Linda Chornobay, EFS sees itself as a growing and caring business, with offices across British Columbia. Its website claims that it has a 99%* success rate, and that recent awards are typically in the $10,000 to $20,000 range, sometimes more.
So, listen to the parent in your head and take action to help your own finances. The first step is to call Enabled Financial Solutions Ltd. to see if you can qualify for the DTC.
Don’t worry though. They’ll be more than happy to give you a free eligibility assessment over the phone, and won’t yell at you to make your bed.
Enabled Financial Solutions helps seniors and those living with disabilities recoup the taxes paid to Canada Revenue Agency. If you have a prolonged medical condition or a disease or disability preventing you from enjoying your life, call today to discuss how Linda Chronobay can help you qualify for the Disability Tax Credit in Canada.
– Get Fi$cal About Your Disability –
*Our success rate is calculated by the number of client applications submitted to the Canada Revenue Agency.