Many Canadian patients ask whether undergoing bariatric surgery provides some tax benefits:
Q: “Can I Write Off Bariatric Surgery in Mexico on My Taxes?“
A: Yes, it is possible to claim a tax credit of up to $1,285 CAD for year 2021 and $1,316 CAD for the year 2022. Your income limit will need to below $54,146 CAD for 2021 and $55,449 CAD for 2022.
Bariatric surgery (including gastric sleeve, gastric balloon, gastric bypass, and revisional surgery) can be written off for tax purposes and you can claim a federal tax credit. You will need to meet certain income qualifications and speak to a local licensed tax professional to ensure you qualify.
The exact amount you can claim on your return will need to be determined by a tax professional, as after the income of $29,129 CAD in 2022 your tax credit will be reduced. Reduced by 5% of combined net income in excess of $29,129 CAD. This medical tax credit was designed for low-income Canadian patients.
According to the Canadian Revenue Agency:
You may be able to claim this supplement if all of the following apply:
- You entered an amount on line 21500 or line 33200 of your return
- You were a resident in Canada throughout the year
- You were 18 years of age or older at the end of 2021
- have employment or self-employment income (excluding wage-loss replacement income, and excluding losses) exceeding $3,751 in 2020 ($3,841 in 2022).
- Your adjusted family net income is less than $54,146
In order to claim the credit, receipts are required, and should be filed with your tax return.
Related:
- Line 45200 Refundable Medical Expense Supplement – TaxTips.ca
- Is Bariatric Surgery Tax Deductible? – For U.S. Tax Payers
Disclaimer: Please consult with a licensed tax professional. This is not legal or financial advice.
