I was told this could be deduction on my income tax. Does that mean I will get that entire amount back or deducted from my taxable income? We will suppose a taxable income of 75 thousand. Can someone give me a figure or two? Canadian information only please.
Suggestion:
The medical expenses above $2011 will convert to a non-refundable tax credit, at 15% of the amount on your federal tax and the lowest provincial tax bracket.
In Ontario, this would mean a $3365 credit on your taxes.
http://www.cra-arc.gc.ca/E/pub/tg/5000-g/5000-g-04-09e.html#P1332_182433
