Personal Finance

Can I claim medical prescriptions/expenses on my taxes?

  • Last Updated:
  • Dec 1st, 2009 3:43 pm
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Member
Dec 2, 2007
274 posts
6 upvotes

Can I claim medical prescriptions/expenses on my taxes?

My company only covers 80% of medical prescriptions. I have the pay the remainder. Am I able to claim this remainder on my taxes?

Also, what about the difference for optical expenses?

Cheers,

-Tony
3 replies
Member
Sep 12, 2008
241 posts
10 upvotes
Z Tuned wrote:
Dec 1st, 2009 3:23 pm
My company only covers 80% of medical prescriptions. I have the pay the remainder. Am I able to claim this remainder on my taxes?

Also, what about the difference for optical expenses?

Cheers,

-Tony
http://www.drtax.ca/eng/kb/new/keywords ... hf_330.htm

"Your total expenses have to be more than either 3% of your net income (line 236) or $1,962, whichever is less."
Deal Addict
May 30, 2006
1749 posts
2 upvotes
Z Tuned wrote:
Dec 1st, 2009 3:23 pm
My company only covers 80% of medical prescriptions. I have the pay the remainder. Am I able to claim this remainder on my taxes?

Also, what about the difference for optical expenses?

Cheers,

-Tony
You should ask an accountant, but yes you can claim the 20%. However, you have to meet a minimum threshold before you start getting any benefit for making a claim ... I think it is 3% of your income or something (don't quote me on that). So you have to have very significant medical expenses before you would get a dime back from the government. Once you meet the minimum threshold you don't get credit for the entire amount either ... just the amount above and beyond the threshold. Not worth it for most people.

Search around the internet for more details. Try taxtips.ca.
Deal Expert
User avatar
Jun 14, 2003
23140 posts
173 upvotes
Z Tuned wrote:
Dec 1st, 2009 3:23 pm
My company only covers 80% of medical prescriptions. I have the pay the remainder. Am I able to claim this remainder on my taxes?

Also, what about the difference for optical expenses?

Cheers,

-Tony
Yes, you can always claim the medical expense that is out of your pocket including your spouse and dependents. However, that does not mean you can get a cent back. That all depends on your household salary and the amount of the expense (out of pocket expense).
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