The 2008 Federal Budget proposes to clarify the medical expense tax credit (METC) provisions for prescription drugs and medications. What has been clarified?
For expenses incurred after February 26, 2008, the budget proposes that the METC provisions be clarified to ensure that drugs and medications that may be purchased without a prescription would remain ineligible for the METC. Question. What is the Joint Election to Split Pension Income Answer: The following explanations apply to most taxpayers.However, if the taxpayer has a specific situation (bankruptcy, death, union in the year, foreign pension income, etc.), or if the spouse’s return is not processed simultaneously, we suggest you contact the Canada Revenue Agency for more information on the income splitting rules. Step 1 Check that the following conditions are met: The taxpayer and the spouse are not separated at the end of the year. The taxpayer and the spouse are residents of Canada on December 31. The taxpayer has an eligible pension income from line A of Form T1032, Joint Election to Split Pension Income This amount is based on the data entered on the information slips and the t
