The Disability Tax Credit (DTC) is a non-refundable tax credit designed to help Canadians with disabilities and their families offset additional expenses associated with living with a disability. It reduces the income tax payable by eligible individuals or their supporting family members. The DTC is suitable for individuals with severe and prolonged impairments in physical or mental function that significantly restrict their ability to perform basic activities of daily living or require extensive therapy to sustain a vital function.

A financial advisor can help with the DTC by:

​

1. Assessing eligibility: A financial advisor can review your specific situation and help determine if you or your family member qualifies for the DTC, based on the eligibility criteria.

2. Assisting with the application process: Financial advisors can guide you through the process of completing the necessary forms, such as Form T2201, Disability Tax Credit Certificate, and gathering supporting documentation from qualified medical practitioners.

3. Maximizing tax benefits: Financial advisors can help you optimize your tax situation to ensure you are fully utilizing the DTC and any other available credits, deductions, or benefits, potentially leading to significant tax savings.

4. Exploring additional resources: A financial advisor may also inform you about other financial programs and resources available to individuals with disabilities, such as the Registered Disability Savings Plan (RDSP), and help you develop a comprehensive financial plan that takes into account your unique needs and circumstances.