Care Planning

The new consolidated caregiver tax credit – how it works

The new consolidated caregiver tax credit – how it works If you care for and support a family member, the tax system currently provides three potential caregiver non-refundable credits you may be eligible to claim on your 2016 tax return: the infirm dependant credit, the caregiver credit and the family caregiver credit. These credits are intended to compensate you for part of the non-discretionary, out-of-pocket expenses that caregivers often incur, but the rules are complex and confusing. Fortunately, last month’s federal budget announced, for 2017, a significant simplification and consolidation of these three non-refundable credits, into one: the new Canada Caregiver Credit. Let’s review the current rules and then see what’s changing going forward. The current system (for 2016 returns) The current system includes three credits, with varying eligibility conditions based on the circumstances of the caregiver and the dependant: Infirm dependant credit: This is a 15 per cent non-refundable tax credit for individuals who support an adult…

Mom or Dad is Coming Home from the Hospital…. What to expect.

Mom or Dad is Coming Home from the Hospital…. What to expect. When your loved one has been in the hospital, coming home can bring many changes and challenges.  Whether it is living alone after a medical event or moving in with family members, a plan is needed before coming home. Prepare for the fact that Life is going to change – Things to consider are: •         The level of support they may need for the short and long term •         Changes in medications •         Managing time for appointments and rehab visits •         Their ability to get around •         Anxieties about if or when the next hospitalization may occur •         How much support will they need to be comfortable? •         Do I have enough time to adequately care for them? Talk to the professionals in the social work and discharge planning departments at the hospital and CCAC about what to expect. Base your plan upon their suggestions. It may be recommended you obtain or purchase and install home supportive…

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