The new Federal Budget includes some much-needed tax relief for those using assisted reproductive technologies to conceive a child.
Getting medical help to conceive a child can cost thousands or even tens of thousands of dollars. These costs are not covered by most provincial health plans or private insurers. That leaves prospective parents on the hook.
Prior to the release of the 2017 Federal Budget, there was some tax relief available to those diagnosed as medically infertile. Unfortunately, that tax relief excluded the growing numbers of Canadians who are single, or in same-sex relationships, and want to conceive a child.
The 2017 Federal Budget includes a “clarification” to Canadian tax laws that allows anyone who has incurred costs for assisted reproduction over the past ten years to re-file their taxes to deduct those costs from their income through the medical expenses tax credit.
If you have paid for assisted reproduction in the last ten years, but were unable to take advantage of the medical expenses tax credit, we encourage you to talk to your accountant to discuss your options for re-filing your taxes to claim that credit.
If you are considering using assisted reproductive technologies to conceive a child, including through the use of a donor egg, sperm, or through the assistance of a surrogate, we also encourage you to talk to a lawyer with experience in fertility law.
Any BHM Lawyer can guide you through issues around donation and surrogacy. You may have questions such who will be the child’s parent or parents under the law, or whose name will be included on the child’s birth certificate?
Or, you may not even know what questions to ask. A BHM lawyer can walk you through the entire legal landscape using assisted reproductive technologies to conceive a child. We can work with you to draft a Donor Agreement or Surrogacy Agreement that meets the needs of your particular situation.
At BHM Lawyers, we are proud to work with families at every stage of their lives and in every configuration. We support these new changes to Canadian income tax laws that make tax credits for assisted reproductive technologies more accessible to all.
For more information on the tax implications of the 2017 Federal Budget for assisted reproduction technology, see the CBC News.