Taxing of your CPP Disability Benefit

What % of my CPP Disability should I have taken off for taxes? I have received amounts that CPP Disabiity will pay (probably my insurance company). I have also received a form letter asking the percentage of tax that I would like taken off. I can’t even guess at what I should have taken off.

I am wondering the same ! I was thinking maybe 10% ? :woman_shrugging:

Apply for the disability tax credit.

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I’ve read the Disability Tax Credit form. While I have a great deal of trouble doing some of the items they list, I either get a friend to help or painfully do it myself. I doubt that I would qualify but I’ll give it more thought.

They consider the combination of everything. :slight_smile:
Don’t be intimidated.

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If I were you, I’d take a percentage you’re comfortable with and put it into a little savings account each month. Let it grow interest (even 2% savings account interest). Then at tax time, if you end up owing money, you have it saved, plus, you have made a tiny bit of money on it over the year. Interest is better in your pocket than CRA’s :slight_smile:

What bank pays that? :slight_smile:


Thank you but I feel that I’d rather be owed money by CRA than have to pay it at tax time.

Thank you. I’ll check out the form again and speak with my doctor about it.

RBC high interest is .95 but sometimes there are bonus promos for 2% for a set amount of time. Many banks also have other intro higher interest rates.

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EQ bank is 2.3% right now, no fees :smile:

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Thanks-just signed up!

Tangerine is now offering 2.75% interest for six months when you open a new savings account. There’s also no fees.