Medicare deduction from Social Security
Moderator: Mark T Serbinski CA CPA
Medicare deduction from Social Security
If a Canadian resident only has pension income, and has Medicare deducted off of their Social Security cheques, can they deduct the Medicare as a foreign tax credit, or do they have to deduct it as a medical expense. I have searched through the site for the answer, but can only seem to find examples where the taxpayer is an employee. CRA has reassessed the tax return to reallocate the Medicare as a medical expense.
Medicare taxes (paid as an employee) are considered a tax for Cdn tax credit purposes.
Medicare premiums are medical expenses.
Can I ask what "Parts" you chose to pay for and why, when living in Canada?
Medicare premiums are medical expenses.
Can I ask what "Parts" you chose to pay for and why, when living in Canada?
After 20 years, I am severely cutting back on responses. Do not ask specifically for my help. There are a few others on this board that can answer most questions. All the best