Nova Scotia offers tax credit for fertility care
Posted Apr 5, 2023 10:20:16 AM.
Last Updated Apr 5, 2023 10:55:44 AM.
Nova Scotians who have paid for fertility care and surrogacy can now apply for a new tax credit to help offset the cost.
Beginning with the 2022 tax year, the province will offer a refundable tax credit equal to 40 per cent of the cost of fertility care provided by a Nova Scotia-licensed medical practitioner or infertility treatment clinic and for surrogacy-related medical expenses.
According to a news release, there is no limit on the number of treatments an applicant family can claim, but the maximum is a total of $20,000 in eligible expenses, for a maximum annual credit of $8,000.
The credit provides coverage for all types of families, including the 2SLGBTQIA+ community, who previously had no option but to pay the full cost.
“We know the impact infertility can have on Nova Scotians trying to grow their family. For many, the cost simply puts their dreams out of reach,” said Health and Wellness Minister Michelle Thompson in the release. “I hope the Fertility and Surrogacy Tax Credit can help Nova Scotians realize their dreams of parenthood by reducing the financial burden of fertility care and surrogacy-related medical expenses.”
Eligible people can apply for the tax credit after they file their 2022 income tax return and receive a notice of assessment from the Canada Revenue Agency.
The tax credit is estimated to cost the province $3 million in 2023-24.
