Prepared by The Institute of Health Risk Managers, an independent training provider specialising in the healthcare industry.
This programme will provide an understanding of the tax benefits with regards to medical expenses, as per the Income Tax Act. The lesson includes:
- How to calculate to Medical Tax Fees Credit (MTC)
- How to calculate the additional Medical Tax Credit (AMTC)
- What is a disability and physical impairment expense?
• Who is a tax payer and what tax is payable?
• Calculation of taxable income
• Rationale for tax relief on medical expenses
• Differences between a deduction and the rebate
• Calculation of the medical tax credit
• Calculation of the additional medical tax credit
• Qualifying contributions
• Qualifying medical expenses
• Tax implications for employers
• Importance of tax compliance
- Total CPD points on successful completion: 1.5
- 60% pass rate with 3 attempts
- Approval number: FPI20030046
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