Claim your insurance premium on your income tax
Posted date : Nov 4, 2017.
Dear Bird Talk,
Reading your article on Jim Flaherty makes me ask you, “Can we claim our premium for travel insurance policy on our income tax? I have paid premiums for three years now and didn’t realize that we could claim them. Also, can I claim out-of-pocket medical expenses for dentist bills which we incurred while in Florida? Our policy paid part of it, but it still cost us over $400.00 from our own pocket.
Ed.: Absolutely! 100% of your travel insurance premiums are tax-deductible, thanks to Minister Flaherty. We are not certain about the deductibility of dental costs, but I would certainly claim them and await further advice from the CRA.