Personal Finance

Is propecia tax deductible?

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  • May 1st, 2018 7:25 am
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Aug 24, 2014
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Is propecia tax deductible?

I recently heard that prescribed medicine is tax deductible given that the expense is over $2000 ish.

Does that mean propecia tax deductible?
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Sep 16, 2004
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Propecia and Viagra may be questionable as they may not be seen as necessary for the survival of the claimant.
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Aug 17, 2009
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gushingtears wrote: I recently heard that prescribed medicine is tax deductible given that the expense is over $2000 ish.

Does that mean propecia tax deductible?
Consult an accountant or tax lawyer. Does taking it assist with your job or is part of your income generating? If that's the case, it may be tax deductible. Simplest example is lunches. Business lunches are deductible; personal ones are not.
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gh05t wrote: Propecia and Viagra may be questionable as they may not be seen as necessary for the survival of the claimant.
If you lose your hair and ability to have erections let me know if you change your mind Face With Tears Of Joy
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Oct 19, 2016
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I think it could be deductible if say your an actor or someone working in entertainment business where looks matter.

If its not deductible, you really should look into the generic version available overseas.. You can find the indian version for much much much much cheaper.

gushingtears wrote: I recently heard that prescribed medicine is tax deductible given that the expense is over $2000 ish.

Does that mean propecia tax deductible?
Newbie
Apr 23, 2018
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get your doctor to write you Proscar instead, divide into 4 segments, Same drug, fraction of cost ($50/year or so)
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Jan 2, 2009
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So if you are a porn star looks like Viagara may be a tax deduction ;-P
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slumlordz wrote: So if you are a porn star looks like Viagara may be a tax deduction ;-P
What about amateur?
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slumlordz wrote: Maybe call the CRA and let us know?
I'll post the link for my live stream.
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gushingtears wrote: I recently heard that prescribed medicine is tax deductible given that the expense is over $2000 ish.

Does that mean propecia tax deductible?
With the last budget, CRA has declared that "cosmetic" medical procedures will no longer qualify as a medical expense on personal Canadian tax returns. Procedures such as hair transplants, botox injections, teeth whitening etc, will no longer be deductible as qualified medical expenses. And this likely would include any medication that works at giving your hair back.

Though you can always call a tax accountant to see if you can get a different answer.
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Oct 19, 2016
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I see... but i wonder if it could qualify under Business expenses.. That is for self employed people such as actors, singers, models etc..

jeff1970 wrote: With the last budget, CRA has declared that "cosmetic" medical procedures will no longer qualify as a medical expense on personal Canadian tax returns. Procedures such as hair transplants, botox injections, teeth whitening etc, will no longer be deductible as qualified medical expenses. And this likely would include any medication that works at giving your hair back.

Though you can always call a tax accountant to see if you can get a different answer.
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Did not know proscar was that cheap.. yeah but your suggestion is right. I have heard of people doing that as replacement for propecia.
purrrr wrote: get your doctor to write you Proscar instead, divide into 4 segments, Same drug, fraction of cost ($50/year or so)
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Jul 3, 2017
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It's well known that cosmetic measures that help you project a more attractive, youthful, virile image will help you earn promotions and boost sales success at work. Therefore it contributes to increased income and taxation, and should be deductible by the CRA's rationale. :)
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Feb 13, 2015
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As a physician I can tell you I have had patients claim that and even private hair transplant surgery before.
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Dec 27, 2009
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sahiljain22 wrote: As a physician I can tell you I have had patients claim that and even private hair transplant surgery before.
They can try, but will CRA consider it legit? I can't imagine them accepting that.
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Feb 13, 2015
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Why not? The CRA will usually allow most private surgeries, vitamins, medications taken for disputable reasons, medical expense for travel … as long its health related and you aren't abusing the system.

For somebody (male or female) hair on their head might be as important as nail fungus or a big non-cancerous spot on their face or one leg being shorter than the other or a reconstructed breast after mastectomy. As long as its justifiable, reasonable and is supported by a physician with a letter, the CRA will be ok with it in my experience. Again, CRA's job isn't to justify one person can have this allowance for reason A and another person not for reason B which isn't the same but perhaps is similar.

For propecia, if OP has a prescription, it will be allowed. Due to the amount, it might be worthwhile to have the prescribing physician certify this was indeed for this health (and not for resale, recreational purposes).
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Apr 23, 2018
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Why are we still talking about this??

Proscar has the exact same ingredients as propecia and costs almost nothing! Divide into 4 using a pill cutter, and you are done! Yeah it will be 1.25 g instead of 1 g, but it doesn't really matter. You can nonetheless average it over a period such that over 2 weeks you take same amount as Finasteride has a very long half-life.


Proscar = Propecia = Finasteride
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sahiljain22 wrote: As a physician I can tell you I have had patients claim that and even private hair transplant surgery before.
That might be so in the past (prior to 2010). It might be so even now if the CRA doesn't ask for proof of expense. But I can tell you categorically that the info your giving is incorrect.
Non-eligible expenses include:
liposuction;
hair replacement procedures;
filler injections (for removing wrinkles);
teeth whitening.

An expense may qualify as a medical expense if it is necessary for medical or reconstructive purposes, such as surgery to address a deformity related to a congenital abnormality, a personal injury resulting from an accident or trauma, or a disfiguring disease;
I'm sure in the above case, if hair loss was the result of an accident, or perhaps cancer, they may allow it. Otherwise, nope.

https://www.canada.ca/en/revenue-agency ... -2016.html
For somebody (male or female) hair on their head might be as important as nail fungus or a big non-cancerous spot on their face or one leg being shorter than the other or a reconstructed breast after mastectomy. As long as its justifiable, reasonable and is supported by a physician with a letter, the CRA will be ok with it in my experience. Again, CRA's job isn't to justify one person can have this allowance for reason A and another person not for reason B which isn't the same but perhaps is similar.

For propecia, if OP has a prescription, it will be allowed. Due to the amount, it might be worthwhile to have the prescribing physician certify this was indeed for this health (and not for resale, recreational purposes).
Anecdotal evidence shouldn't be given out as tax advice. Nor should incorrect advice be given outright, as I highlighted and underlined. It used to be pretty easy to play fast and loose with the CRA in regards to medical expenses, as long as the numbers seemed within reason. Even with a modest income and moderate medical expenses, the savings were minimal. However this isn't the case anymore, as the CRA is clamping down on illegal expenses.
Why can't we all just get along?

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