While many people have insurance benefits which helps them get new dentures, there are also tax benefits / tax deductions that many people aren’t aware of.
Are my dentures tax deductible?
YES – As tax season approaches many of us find ourselves unsure of what we can and cannot claim as a taxable expense. According to the world’s largest tax service provider, H & R Block, credits are the most over looked part of the tax return. The following information may save you a significant amount of money come time to do your income taxes!
Provincial health care systems are in place to help individuals with medical expenses. Though the majority of medical expenses are covered by these plans, dental work does not qualify under these expenses and can cause a dent in your pocket.
However, Canada Revenue Agency allows dental expenses to be used as a medical expense deduction while filling out your income taxes to relieve these costs (dentures and dental implants included!). The only exception to this is cosmetic dental work that is not recognized as a medical need. Have you thought about getting dentures or dental implants but have been holding off due to cost? Depending on your annual income and other medical expenses you could receive a tax credit up to 25%! Medical tax credits can make treatment much more affordable. You should consider dental work an investment to your personal health and well-being.
For more information regarding denture and implant tax credits speak to your denture provider or accountant. Don’t overpay taxes by overlooking these tax deductions.
Are Dentures GST Free?
YES – There is no GST applied to denture services in Canada, dentures are GST free. This also included dental implants, complete dentures, partial dentures, flipper teeth and any other dental restoration.
Tax Benefits for Dental Implants
Dental Implants are generally considered the optimal treatment planning option for replacing missing teeth. Consider the life-time cost of dental implants and how your GST tax deduction can be maximized.
ASK YOUR DENTIST / DENTURIST ABOUT PERFIT DENTAL SOLUTIONS!
We recognize how important it is for people in Kelowna to have Affordable denture solutions. We are proud to be launching in Kelowna this month.
Ask your dentist about Perfit Dental Solutions, or Contact us, to request a Perfit Dental Solution!
Perfit Dental Solutions – Coming soon to Calgary, Edmonton, Vancouver, Vernon, Victoria and many more!