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Medical expenses…

When guides say that you can subtract medical expenses from your net income before surplus is calculated, what exactly does that mean?

If you have a medical condition that requires daily medication, would the portion that you have to pay for those prescriptions be deducted from your net income? Or is it only very specialized things?

My monthly meds are in excess of $150 out of my pocket, so it will be cutting drastically into my money.

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One Response to “Medical expenses…”

A licensed trustee said...

The test that most trustee use for medical expenses is whether or not Canada Revenue Agency would accept the expense as a tax deduction. Therefore things like prescriptions are deductible to th extent that you are not re-imbursed by a benefit plan.