Medical expenses being reviewed by the CRA? Here are some tips.
Many clients are reviewed by the CRA for medial expenses. To reduce the stress, ensure that your Medical Expense Tax Credit (METC) will clear all the hurdles by ensuring the following:
Be Receipt Ready
Keep those receipts organized and clear. The last thing you want is a blurry, unrecognizable receipt slowing things down. A tidy pile makes for a smooth claim process.
Go Digital
E-file your tax return using the CRA's online services or tax software. It's like a fast lane for your paperwork, and who doesn't love avoiding snail mail delays?
Mind the Details
Check your return thoroughly before hitting submit. A little typo or a missing piece of info can throw a wrench in the works. Details matter.
Play by the Deadline Rules
Time is of the essence. Aim to file by the April 30th deadline (or June 15th if you're in the self-employed club) to dodge late penalties and keep things moving.
Stay in the Loop with My Account
Create or log into your My Account on the CRA website. It's like your tax mission control. Check the status, view notices, and keep the CRA in the loop with your latest info.
Remember, the smoother your tax claim journey, the quicker those medical expense credits can find their way back to your wallet.