Written by the UPGUYS Editorial Team
Published on March 08, 2022
It is that time of the year when we should go to an accountant or do our taxes independently. That's why it is a good idea to learn a bit more about eligible medical expenses.
Even if you go to an accountant, you need to know what expenses you can claim and ensure they are correctly done. But it becomes even more challenging if you are doing it all on your own.
Medical expenses are often overlooked as tax deductions. Some medical expenses are not covered in the provincial insurance programs, but they are on the list of eligible medical expenses by CRA under the Income Tax Act.
Filling in tax return forms can be challenging. That's true! But, let us get to the prescription and non-prescription medication expenses and see if they are eligible in different provinces of Canada first. Then, we talk about the proper spot on the tax form to fill in this information. Read to the end of the article to learn more.
Before going any further, let us remind you that you can claim ALL your UPGUYS purchases on taxes. All our customers have access to their expense receipts for the whole year.
In this article, we discuss the following:
Generally speaking, each province has their own drug insurance plans. Not all Prescription medications and prescription cannabis are covered by the provincial insurance plans. Most Canadians might have other private insurance covering more medications than their province's public insurance.
But, in Canadian hospitals, all the prescription medications you receive are at no cost under Canada Health Act.
You need to remember that if you receive any prescription or medication outside of your province, the costs are usually reimbursed at your own province's fee guide rates.
Expenses related to your prescription medication can be claimed in all the provinces. Medical cannabis is also listed as eligible medical expenses by CRA. You can claim it if you have the receipt and the prescription information. But, the over-the-counter medications, even though prescribed by a medical practitioner, cannot be claimed in your tax return.
You can claim your eligible medical expenses, medication expenses included, in line 33099 or line 33199 of your tax return (Step 5 – Federal tax). You can find all the steps of how to fill your eligible medical expenses HERE.
Every year we, at UPGUYS, prepare the annual expense receipts of ALL our customers for tax return claims and notify them by email that they can claim all their purchases at UPGUYS on their yearly tax returns.
We know that not so many people keep their receipts. No problem there! We keep them all for you and upload them closer to the tax season.
Here is how you can have access to your receipt once it is ready and uploaded:
1- Go to: https://upguys.com/login
2- Log in to your account
3- Under the "Orders" tab, click on the black button that says "Download Tax Receipt 202.."
4- Your PDF file is downloaded to your computer or phone