I can claim an employer health insurance tax credit if I am self-employed, the amount I claim will be adjusted based on your income.
The credit applies to your first income tax return and the tax year that follows.
I need to prove my income, which can be done on my employer tax return or my income tax and benefit claim form.
If I have more than $1,000 in taxable income, you can claim the additional $500.
I don’t need to claim any income tax or benefit on this credit, but I can use the money to pay for medical care, rent or travel expenses.
I can also claim the credit on my employee’s employee health insurance claim form or on the employee’s claim for GST if they are self-funded.
You can claim this credit on the first income or the tax return you file, whichever comes first.
You must claim it on the last income tax year before your employer’s deadline for self-employment tax.
This means you have to file your return no later than the end of the month you file.
If you need help with your tax return, contact your tax adviser.
The employee health care credit You can use this credit to pay your employee’s health care costs, including: a personal health insurance plan (pension, health savings account or work-life balance) for an employee who has no dependents, or for an independent contractor working on a business for whom you have a licence, contract or other agreement