Are you a medical practitioner? Then, it is a must that you know more about DTC process.
Disability Tax Credit or simply known as DTC is a credit type belongs to nonrefundable tax. It supports either individuals with disabilities or supporting person of disability person to decrease the income tax amount they need to pay if any. If you are a disabled person, then you can claim DTC. It is a compliment for a person below 18 years. The main aim of DTC is to offer more tax equity by permitting some relief for disability expenses since it is additional expenses that are unavoidable that other taxpayers don’t face.
There are many private institutions and charities donate needed or disabled people. You can check the site Goodwill.org to understand the different donations options offered by Goodwill, and also you can find the right job based on your skill set.
If you are eligible for DTC, then you are eligible for other provincial, federal, territorial schemes like Working income tax benefit, Child disability benefit, registered disability savings plan.
Being a medical practitioner, you should find the individuals with a disability. Then you should check if they are eligible for DTC or any other government programs for disabled people.
If you are applying DTC in Canada, then you must submit Form t2201. If you are a disabled person, you must check if you got the approval of Form T2201. You must meet a doctor and complete the physical examination. Your doctor should certify that you have impairment for a long period and also explain the effects of your disability. If you are a medical practitioner, you must ask few questions about the disability of the person. Once your doctor already certified that you are eligible for DTC, don’t apply another form. You can apply again, only if the validity period of the existing form comes to an end.
Some of the examples of impairment include hearing, walking, speaking, vision problem, dressing, feeding, life-sustaining therapy, eliminating including bladder or bowel functions and few others. To apply for DTC, you should fill the Form T2201 as per the step by step instructions. Once you have submitted the completed Form T2201, your application is reviewed and requires the approval of the authorities for further process.
Once the approval is obtained, the government institution will inform the decision to you. For how many years the approval is valid is an important part of the approval. You don’t need to submit new Form T2201 every year, and the same approval is valid until the end period given on the approval certificate. If there is an improvement in your health before the approval ends, you must inform that you no longer require DTC.
If the application is rejected, then the notice contains the reason for rejection. You can verify the form against the column, the reason for rejection. The final decision is based on the input given by the medical practitioner.
If you received the approval, then you can claim the amount of your income tax along with the benefit amount. Don’t miss the wonderful opportunity offered by the government to support your financial requirement.