Across Canada, basic healthcare procedures and medical visits are not a financial concern, thanks in part to provincial healthcare plans. But what happens when specific medical expenses are not covered?

At this time, PoNS TreatmentTM is covered by some types of group, private or benefit plans and is not currently covered by provincial health insurance. It is possible, however, to claim the treatment through the CRA medical expenses credit.

No one should ever have to compromise on starting a new, potentially rewarding treatment due to medical expenses, so here are a few tips to help you recoup portions of your PoNS TreatmentTM expenses.

Disclaimer: This content is provided for general informational and educational purposes only and is not a substitute for professional advice. Contact a Chartered Professional Accountant (CPA) prior to acting on recommendations thereof, or visit the Government of Canada website for more details.

What is the CRA Medical Expenses Credit?

According to the Government of Canada, this non-refundable tax credit is included in your annual tax return and covers medical expenses paid by yourself, your spouse or common-law partner.1 By submitting this credit along with your regular tax return, you may be able to reduce the tax you paid or may have to pay. For this specific credit, you can only claim the medical expenses you paid in the past, so long as they were not claimed in past tax years and have not been previously reimbursed by private or group benefits plans.2

The full conditions for submitting the PoNS™ medical device as a medical claim under this tax credit can be found here.

Keep in mind, this credit is not a complete reimbursement for the amount you paid for PoNS Treatment™, but is a credit that goes towards the income tax you owe for a 12-month period and will not be 100% of the total expense.

The total credit returned to you will be based on a percentage of your total income or the percentage stipulated by the CRA for the specific tax year, whichever is less, as stated by Canada Revenue Agency.3

For full details related to the Medical Expenses Credit, please visit the Canada Revenue Agency website.

What Do I Need to Submit for This Credit?

Generally, you are not required to submit receipts for PoNS Treatment™ when you submit your tax return, unless you are submitting your return as a paper copy.

Along with receipts, make sure you keep proof of payment, such as bank or credit card statements, as well as proof of support, such as a lease agreement or grocery receipts if you are claiming expenses for a dependent who is 18 years of age or older.

What Steps Do I Take to Claim My Medical Expenses?

If you are unfamiliar with filing your taxes, it may be beneficial to work with a Chartered Professional Accountant (CPA) to claim your medical expenses.

However, if you choose to file your taxes on your own, you can find a step-by-step guide here.

The CRA Medical Expenses Credit is a great way to ensure you are able to subsidize a portion of your PoNS Treatment™, which can reduce any financial worries when considering a new medical treatment. If you or someone you love has recently funded their PoNS Treatment™, make sure to share this information and help everyone breathe easier this tax season.

If you are looking for more support and information, check out our MS and TBI Community Resource pages and contact your nearest clinic to see if PoNS Treatment™ is right for you.

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1 “Medical expense tax credit (METC) Line 33099, Provincial Line 58689.” Tax Tips. January 31, 2021. https://www.taxtips.ca/filing/medicalexpensetaxcredit.htm

3 “Lines 33099 and 33199- Eligible medical expenses you can claim on your tax return.” Government of Canada. January 18, 2021. https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions -credits-expenses / lines-33099-33199-eligible-medical-expenses-you-claim-on-your-tax-return.html # wb-auto-4