Tax credits stairlift
As the number of Canadians 65 and older increases, there is a growing need for government assistance in mobility equipment.
By 2030, 22% of the total population in Canada is projected to be aging. Growth in this sector of the population will directly effect the need for greater access to medical equipment, including mobility equipment, and subsequently place a demand on the Canadian government for financial assistance in this area.
Fortunately, tax credits for seniors, in need of mobility equipment are available in several provinces. Further, the Government of Canada offers some relief for medical expenses through the "medical expense tax credit, which provides tax relief for individuals who have sustained significant medical expenses for themselves or their dependants. The medical expense tax credit is a non-refundable tax credit that is applied to reduce the Part I tax liability of an individual."
"In the case of a patient who lacks normal physical development or who has a severe and prolonged mobility impairment, eligible medical expenses may include reasonable expenses relating to renovations or alterations to the patient's dwelling or incremental costs related to the construction of a new principal place of residence for the patient."
For a more detailed understanding of tax credits, read below to see what's available in your province.