Cool Water Enterprises

09/03/2025

Medical Expense Deductible - Personal Tax Return
One of the least utilized tax deductions is the medical travel expense. For detailed information please go to

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4065/medical-expenses.html

Expenses you can claim
To claim transportation and travel expenses, all of the following conditions must be met:

Substantially equivalent medical services were not available near your home.
You took a reasonably direct travelling route.
It is reasonable, under the circumstances, for you to have travelled to that place for those medical services.
If a medical practitioner certifies in writing that you were not able to travel alone to get medical services, you can also claim the transportation and travel expenses of an attendant.

If you have travel expenses related to medical services and you also qualify for northern residents deductions (line 25500 of your tax return), you may be able to choose how to claim your expenses. For more information, see Form T2222, Northern Residents Deductions.

At least 40 kilometres
If you had to travel at least 40 kilometres (one way) from your home to get medical services, you may be able to claim the public transportation expenses you paid (for example, taxis, bus, or train) as medical expenses. Where public transportation is not readily available, you may be able to claim vehicle expenses.

At least 80 kilometres
If you had to travel at least 80 kilometres (one way) from your home to get medical services, you may be able to claim accommodation, meal, and parking expenses in addition to your transportation expenses as medical expenses. This may include travelling outside Canada.

Meal and vehicle expenses
You can choose to use the detailed or simplified method for calculating meal and vehicle expenses. If you use the detailed method, you have to keep all receipts and records for your 12-month period.

For more information and to find out about the rates used to calculate these travel expenses, go to Meal and vehicle rates used to calculate travel expenses or call the CRA's Tax Information Phone Service at 1-800-267-6999.

The rc4065 is for persons with medical expenses and their supporting family members. The guide gives information on eligible medical expenses you can claim on your tax return.

10/12/2024

🌟 Accepting New Clients! 🌟

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Accurate and timely bookkeeping

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Payroll services

Tax preparation and filing

Liaison with the Canada Revenue Agency (CRA)

And more!

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17/09/2024

Cool Water Enterprises offers a range of professional services including bookkeeping, payroll, tax, and administrative support. We aim to build personalized, long-term relationships with our clients to help their business succeed.
Are you considering using our services for your business? If you have specific questions about what we offer, feel free to ask!

24/04/2024

Are you behind in filing your tax returns? One year, two years or more? You could be missing out on the GST and Carbon Tax Credit. If you have one or more children you could be missing out on the CCB credit. Contact me if you require help with taxes.

11/04/2024

Tax Tips 2023
Did you know there is a refundable medical expense supplement?
- Prescriptions - Dental - Naturopath - Chiropractor - Physiotherapy
- Attendant care and care in a facility - Foot Care
- Travel expense of at least 40 kilometres one way
- Travel expenses 80 kilometres one way you may be able to claim accommodations, meals, and parking in addition to your transportation expenses.

For more information click the link below:

11/04/2024

08/01/2022

Please take time to educate yourself on the government plan to implement a home equity tax and sign the petition. For the general population, our homes are our investments for retirement.

A citizens advocacy group dedicated to lower taxes, less waste and accountable government.

31/12/2021

"No offense...but you're just the bookkeeper" was a comment from a sales cashier. Wow! Did she just say that to me?

I'm sure I'm not alone and many fellow bookkeepers have heard this. Certified Professional bookkeepers hold themselves to a high standard. Our designation means we strive to educate ourselves, stay informed of new CRA rules, go the extra mile to provide services, reporting, client representation to government agencies and much more.

Bookkeepers running their own practice are driven, highly motivated individuals with very strong work ethics and integrity. They take pride in their work and enjoy seeing their clients businesses flourish.

I may be "just a bookkeeper" but I'm proud of my career and accomplishments. I'm also proud to be a member of the Certified Professional Bookkeepers of Canada

Are you ready to get inspired, build connections, and take your career to the next level? Whether you’re an experienced professional, a student, or just starting out in your career – CPB Canada has the programs and services you need to succeed as a bookkeeping professional in Canada.