This section answers some of the most frequently asked questions that we receive from clients. If you still have further questions you can:
How long will the tax review take?
If you are submitting a profile form online, generally we will contact you by telephone within a few days and discuss your situation in detail. Depending on the availability of information that we need, it is usually possible to give you a preliminary indication of what tax credits or refunds you are missing during this conversation or shortly after.
What is the likelihood of finding unused tax credits or deductions for me?
TaxWise has found disability/medical conditions tax credits and/or medical expense deductions for a good percentage of qualified applicants. Who is most likely to benefit can be found here. For most applicants this has been worth $3000 - $10,000. You or a family member have a very good chance of finding out you are eligible for significant tax refunds or credits. There are many factors to consider you may not be aware of.
After I get my free tax review can you help me get any refunds or deductions that I am entitled to? What is your fee?
Yes. Your tax review will include what your options are as well as guidelines about engaging our firm to take care of everything for you. We are able to maximize results due to our experience and expertise. Our contingency fee is based only on successful outcomes and of course does not include any credits or refunds you are already getting. There are no up front costs of any kind. All future benefits are yours alone and we take no fee going forward. After you engage our services it generally takes three to six months for CRA to process your file.
Since Tax Wise can only submit a claim to CRA for reassessment based on the data you (and others involved such as your family) provide us, it is in the best interests of all parties to provide accurate data and situational information.
Is there any risk?
In all cases the only risk is in not making the effort. The worst that can happen is that you end up in the same tax situation you are now.
Generally a tax review costs hundreds of dollars up front - if you can find someone with the expertise - and then there is no guarantee you will get positive results. TaxWise removes that risk and cost completely.
If we find refunds and/or deductions you are entitled to and you take the next step of engaging us to prepare and submit your claims to CRA we cannot guarantee they will accept any claims but the effort and cost is ours. If for some reason CRA does not accept your claim (as submitted by TaxWise or yourself) this does not in any way make you vulnerable for future action or reassessments by CRA. Obviously we would not submit any claim we did not think was valid. In all cases the truth prevails.
What about the personal financial information you require in the application?
The online application forms are encrypted and stored in a secure environment. The toll free fax # and client letters are accessed only by designated personnel. No one else but the people performing your tax review will have access to your file and we routinely delete personal files and of course will do so on a request basis as well. You can call us at any time and talk about your situation. We have been helping individuals and small business reduce taxes for over 30 years.
Are there really over 1,000,000 people not getting all the tax deductions they are entitled to?
According to Statistics Canada in a self assessing survey, as of March 2003, there were over 3,400,000 disabled people in Canada or 14.6% of the population. 5.9% of the population classified themselves as severely disabled or infirm. This represents about 1,400,000 adults (over 15) who are likely to qualify for a Disability Tax Credit Certificate. Compare this to how many are now receiving the DTC. According to a news release by Finance Canada on Disability Tax Credit Proposals, (November 29, 2002) the DTC currently provides $400 million per year to about 450,000 eligible Canadians suffering from a severe and prolonged mental or physical impairment, the effects of which markedly restrict their ability to perform a basic activity of daily living.
When you include family members or support providers who are financially supporting a person with a disability/medical conditions and who may qualify for transferable credits or refunds, and the fact that children also qualify for the DTC (then transferred to a parent) the number grows quickly.
We have integrated our own research activities and personal experience with the above numbers to establish the figure of at least 1 million people (including family members and support providers) who have not maximized their disability/medical conditions tax credits or medical expense deductions. We also think that this is a conservative estimate.
As well, there are very few tax specialists in this often complex area and most tax reduction efforts do not diligently cross-reference tax regulations with personal circumstances to establish all possible tax breaks - of which there are many. So most people are forced to make assumptions about their tax situation based on superficial opinions and hearsay. Yes, our free tax review performs this cross reference for you.
Add to this the fact that recent legislation and numerous successful appeals and challenges in the tax courts have considerably broadened allowable medical expenses and qualifications for disability/medical conditions tax credits. Most people are unaware of what recent changes will benefit them. That there are increased opportunities is substantiated by the increased funding the Government of Canada has earmarked in recent federal budgets to cover future claims.
I am a low income earner. Can I still benefit from a tax review?
Disability tax credits are non refundable (they only reduce taxes paid) so if you have no income or low income or are on social assistance (resulting in low or no income tax owing) you may think TaxWise cannot help you. This is not necessarily true. Due to criteria such as potential transferability to a spouse or supporting family member and retroactive claims you should still complete the application forms and let us sort things out. If you meet the medical qualifications don't hesitate.
I am a spouse or family member that provides financial assistance. Can I benefit from the free tax review?
Almost 50% of eligible tax credits we find people are eligible for are transferable to family members. Our review includes all family members who share the financial burden.
Does this service include the preparation of tax returns?
In some cases we include current year and past year preparation of tax returns. A special case exists for those who have not filed tax returns for a number of years and may be qualified for disability/medical conditions tax credits or medical expense deductions. If your analysis is favourable with respect to real tax savings our service will evaluate on a case-by-case basis the need to complete tax returns including one for the current year.
Where can I get help to complete the forms?
We are asking your cooperation to please review all of the information on this site and the forms themselves before calling us for help. If you have done that then by all means give us a call. Thank you for your cooperation.
I have not filed an income tax return recently. Can I still get a free tax review?
This usually happens when someone has a low or no income level or extenuating circumstances have occurred - which are certainly understandable. We have helped numerous people in this situation. If you think you may qualify for disability/medical conditions tax credits complete the forms as best as you can and submit them to us. It is important to include your support providers in the tax review. You may want to ask them to look at this information and give us a call to discuss the situation. We will help you if we can. Likely we will need to contact you for more information.
Do I need a Disability Tax Certificate?
The bottom line is that in most cases you should get your free tax review so you know whether or not it is in your best financial interests to apply for a DTC.
Can we help you with this?
We will coach you through the best approaches (for your situation) to obtaining a DTC if you engage our services. To review a list of what may qualify for a DTC go here.
Situations that do not need a DTC
I already have a DTC.
If you currently have a valid Disability Tax Credit Certificate (DTC) and are receiving disability/medical conditions tax credits every year you need to decide if, due to low income, some of these credits or medical expenses could be legitimately transferred to a spouse or family member since you are not able to take advantage of all that is allowed due to your low income. Our analysis will do this as well.
I am still not sure. Any comments?
Remember that this free review is specifically for people who are not sure if they have received all the disability/medical conditions tax credits and/or deductions that they are entitled to. TaxWise exists to dispel any uncertainty that you are missing any tax credits and to help you take action to maximize results.
Over 15,000 success stories
I want to thank you for getting a sizeable refund back for us and to have the disability/medical conditions credit reinstated for future use. It will make a quite a difference to our future budgets.
– A. Jones
It is obvious you [TaxWise] have a good grasp of the tax system and did a very good job getting what we are entitled to. You always responded and took the time to answer my questions and tell me what I needed to
– M. Stanistreet
Words cannot express the excitement and happiness your hard work has brought to my husband and me. What a wonderful Christmas present you help us obtain through revenue Canada.
– Linda Chandler and Brian Bartlett