Canadian Tax Guy
Region: CA
Tuesday 20 October 2026 20:47:13 GMT
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user370434797699 :
It’s giving Schitts creek ‘write off’. This will not work.
2026-10-28 06:58:07
9
Jack Schitt :
So true. Canadian personal income tax is an exercise in smoke, mirrors, lies and baloney. Out of 10,000 in medical expenses after all the convoluted calculations you are left with a deduction of approx $100
2026-10-24 18:18:10
115
Zaed Yousif | CPA :
How about the RST and/or CT insurance requirements?
2026-10-28 00:30:20
1
Lori Shepherd 🇨🇦 :
You forgot to mention that it only works for employees. So... if the owner uses draws and is not paid as an employee, they cannot use this.
2026-10-25 17:42:07
16
Keith VINCENT :
In Ontario, if you earn $55,000 a year and spend $5,000 out of pocket on eligible medical expenses, you might only save around $670 in income tax. The first roughly $1,560 of expenses provides no credit in this example because of the income-based threshold. You’re still paying over $4,300 yourself. So when people say, “Just claim it on your taxes,” remember: a tax credit is not reimbursement. It helps, but it hardly makes healthcare affordable.
2026-10-25 22:36:18
3
damz :
I think it would be important for you to mention this is a taxable benefit for sole employee shareholders under 15(1)
2026-10-22 23:45:48
7
Haterino.club :
Hey my man. As a subcontractor, can I write off my meta glasses that are prescription as a company expense?
2026-10-20 21:18:11
1
Tara Talbot 🇨🇦 :
Do you have to be an employee of your corporation to use a HCSA? Or can you do it if you mostly take dividends?
2026-10-25 02:26:18
0
Zabethou 🇨🇦 🍁 :
… this is not how this work. You would get hit with a taxable advantage. And btw massages are specifically excluded from medical expenses
2026-10-31 04:52:59
1
Get Lit Up :
would this work for teeth implants?
2026-10-27 21:38:16
0
robshello :
Are you sure about massages, our insurance company wouldn’t let us put them thru.
2026-10-23 22:14:28
1
Cathuyaa :
If corporations are people. People are corporations
2026-10-26 19:45:31
3
sixsevenssix :
They told me to wait 52 weeks so they review my $600 hip replacement expense
2026-10-21 03:49:21
0
GameTime :
can you do my taxes for 24 and 25 and current?
2026-11-03 16:24:42
0
Leeny :
Can you use your health spend account with your Corp for foreign health spending. Like if you went and had your legitimate surgery in the USA or abroad? But just paid for it private
2026-10-21 17:29:51
0
emotionallabourclub :
Hi. I’m in Alberta and need you. We should be friends!!
2026-11-01 04:08:20
1
Cory :
Why is it normal to say the government gets 50% of your money!?🤬
2026-11-07 23:33:36
0
comealive01 :
Was wondering about this!
2026-11-06 16:59:19
0
Angie Pond :
You have beautiful lashes
2026-10-31 20:38:08
0
🫵🏻 🇨🇦 :
What if you have money in a company you wanna close but don’t want to lose half of it to taxes… any loopholes there?
2026-11-06 01:38:49
0
Giggle88s :
The average person doesn’t have over 10,000 in medical expenses unless you have cancer or some terrible illness
2026-11-06 01:52:26
0
KittahMunHa :
Shareholder loans need to be paid within 12 months or they have to be added to income. People aren’t disciplined enough to do this without an amortization schedule
2026-11-02 21:48:03
0
Me in my new era :
Are you taking on new clients
2026-11-02 04:00:20
0
Disorderly Borderline :
and yet, as a person on disability, I can only write off medical expenses if I have extra income which I have earned. so the government's at all levels choose not to cover certain things while expecting me to find a way to survive. I worked my whole life before I ended up on disability and there are still people who think I deserved what I got, and most of them seem to be in the government
2026-10-31 23:52:10
0
Rose & Lily :
No, you gotta have all your employees in the corporation under health spending account, not just yourself. also, you can't if your family isn't employed under the corporation
2026-11-03 02:28:49
0
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