How to calculate allowable amount of medical expenses for other dependants at line 331 – an example – 2012

When you claim medical expense credit for other dependants at line 331, each dependant’s allowable amount has to be calculated separately. You can only claim the expenses in excess of the lesser of $2,109 and 3% of the dependant’s net income, whichever is less. Example [For year 2012 tax return] John and his wife Helen live…

How much is caregiver tax credit for 2013

In 2013, the full caregiver amount is $4,490 providing you with a maximum tax credit of $673.50 (15% of $4,490). The credit is a non-refundable tax credit. The amount is reduced dollar by dollar by your dependant’s net income (line 236 of his or her tax return) excess of $15,334. It expires where the dependant’s income is…