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.
is a Canadian and US CPA working with clients throughout Canada and the US. Phil advises on cross border tax and financial planning matters. Phil can be reached at firstname.lastname@example.org
or via telephone at 250-661-9417
. You can also read more about Phil at Hutcheson.ca/phil
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