adminThe equations spelled out, the meaning of the variables explained, with a simple calculator.
Province:
Year:
$ Net Income (income minus RRSP contribution and other deductions)
$ Spouse net Income
$ Universal Child Care Benefit (UCCB)
$ UCCB repayment
$ Registered Disability Savings Plan (RDSP) income
$ RDSP repayment
$ Disability supports deduction (line 215)
I was a Canadian resident for the tax year
I was 18 or older at tax year end
Federal non-refundable tax credits1:
[Medical expenses - min(2 or 3% of net income)] * %
Provincial non-refundable tax credits1: [Medical expenses - min(3 or 3% of net income)] * % = $
Refundable medical expense supplement:
min(4 or 25% of ) - 5% * (income + spouse income - )
1 Non-refundable tax credits are credits against taxes you would have had to pay otherwise. If your income is too low to pay taxes, you won't be getting any money back.
2 if your income exceeds $, your federal deductible is less than 3% of your net income.
3 if your income exceeds $, your provincial deductible is less than 3% of your net income.
4 The most you can get is $ for medical expenses of at least $.
Further reading:
Medical Expense Tax Credit Line 330, Provincial Line 5868 on TaxTips.ca
Line 45200 - Refundable medical expense supplement on the CRA website