Have you bought prescription glasses or contact lenses in the last year?
Did you know that prescription eyewear could be used as a tax deduction?
Canadian taxes are due at the end of April, and many people are starting to gather documents to get ready to file. Whether you’re filing your own taxes or hiring a professional—make sure you take advantage of an often overlooked tax deduction—prescription eyewear.
Prescription glasses and contacts are allowable medical expenses that can be claimed on your tax return; however, corrective eyewear are one of the most overlooked deductions by Canadians.
To claim your glasses or contact, usually you only need to provide a receipt for the purchase (that includes the date) and a copy of your prescription.
Importance of Claiming Eyewear
It’s crucial to have glasses and/or contacts with your current prescription. Trying to make do with an outdated lenses or suffering with ill-fitting frames can actually harm your eye and jeopordize vision health. By being able to claim prescription eyewear as a tax-deductible medical expense, you can help bring down the overall cost of frames and lenses.
If you’ve purchased prescription lenses or glasses in the last year, make sure to find a copy of the recipet and your prescription!