How much in medical expenses do I need to make a claim?
The answer to that is the lesser of 3% of your net income (reported on line 23600 of the Income Tax and Benefit Return) or the medical threshold of the tax year (CRA changes this number every year and you can find it in income tax return form).
How do I claim the amount of insurance premium I pay through my employer?
If you are participating with your employer in a health insurance plan, it means some of the premiums are paid by you and some are paid by your employer. Your employers will include your portion of premiums paid in box 85 of your T4. So when adding up all of your medical expenses don’t forget to include this amount. If you are claiming medical expenses for you and your spouse, make sure to add box 85 of her T4 as well. When you choose TurboTax, the software will automatically apply it to your tax return.
For Quebec residents, you will find the benefit related to the employer’s contribution, shown in box J of the RL-1 slip or box B of the RL-22 slip. The amount of the payments made to an insurer or a group insurance plan may be shown in box 235 of the RL-1 or RL-2 slip.
Another way to get your prescription receipts:
If you haven’t saved each prescription receipt, don’t worry! Go to your pharmacy and ask them for your prescription summary. This is a quick way to get your total for your prescription receipts without adding each receipt.
Don’t forget that if you’re married it’s normally better to claim medical expenses on the lower-income spouse. Since you will deduct 3% of the net income, their threshold is lower so more of the medical expenses will be claimed.
TurboTax products have medical expenses optimizer that gives you the best result for your family situation. Consider TurboTax Live Assist & Review if you need further guidance, and get unlimited help and advice as you do your taxes, plus a final review before you file. Or, choose TurboTax Live Full Service and have one of our tax experts do your return from start to finish (not available for Quebec resident).