Looking for written material on a tax write off for out of country medical travel insurance. Spoke with a nice government employee this morning who found the information I need under Canada Revenue CRA.B.C.ca. Then he searched through the income tax act 118. ????? Being a a Senior, it went right over my head.
He mentioned section 118.2 (2) (Q)
Can you locate this information & e mail it to me?
Please & Thank Zhou.
The following CRA document should help: 2007-0229901E5 discusses the eligibility of medical travel insurance premiums for purposes of the medical expense credit. The eligibility for a “credit” (medical expenses are not available as a deduction) are contained in s.118.2(2)(q) as you mentioned.
Make sure however that the plan meets the definition of a PHSP outlined in the document and that if any of the premium covers additional non-eligible medical expenses the full amount may be denied.
Other documents to consider are also outlined in the enclosed document e.g. related IT tax bulletins.
Hope that helps.
Latest posts by Phil Hogan (see all)