How much of a savings this will give you will depend on your income and provincial tax rates. You'll be able to claim only medical expenses above the lesser of $2,208 or 3% of your net income.
For example if you make $60,000 you'll be able to claim the amount over $1,800 you've paid. So if you've paid 3.5% ($2,100) of your total income in medical expenses you'll be able to claim a $300 deduction on your return, which may net out to approximately $100 (depending on your provincial tax rate).
Personally I would claim the deduction. The CRA doesn't need you to itemize your receipts so you can just tally all of your receipts and enter the totals into TurboTax.
How much of a savings this will give you will depend on your income and provincial tax rates. You'll be able to claim only medical expenses above the lesser of $2,208 or 3% of your net income.
For example if you make $60,000 you'll be able to claim the amount over $1,800 you've paid. So if you've paid 3.5% ($2,100) of your total income in medical expenses you'll be able to claim a $300 deduction on your return, which may net out to approximately $100 (depending on your provincial tax rate).
Personally I would claim the deduction. The CRA doesn't need you to itemize your receipts so you can just tally all of your receipts and enter the totals into TurboTax.
Thank you, Jocelyn! If I tally the receipts and enter the total, what do I enter in the"date" field since there were multiple dates on which the expenses were incurred?