Posted on: 21-04-09 01:55:34
Hi I am confused about whether my health service plan are deductible or not.
I work for the the city, and have a plan with blue cross for the dental/extended medical/etc. The premiums are deducted from my pay check.
Is this considered to be deductible? If it is, will it show up in box 85 of my T4 slip? (I do not see it there)
Thanks!
By "deductible" if you mean "tax deductible", then no.
Quote:
Originally posted by bluegirl
Hi I am confused about whether my health service plan are deductible or not.
I work for the the city, and have a plan with blue cross for the dental/extended medical/etc. The premiums are deducted from my pay check.
Is this considered to be deductible? If it is, will it show up in box 85 of my T4 slip? (I do not see it there)
Thanks!
If these premiums are paid by you (and the plan is not subsidized or premiums paid by the employer) it should be shown on box 85 of your T4 and you can claim that amount as your medical expenses. However, if the amount is not over the threshold (3% of your line 236), you may not get any tax benefit for the same. You should confirm this from your HR department.
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Pramod Chopra
Senior Mortgage Consultant
Mortgage Alliance Company of Canada
