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At The Grace Clinic, we offer special payment terms to make the Cosmetic Surgery process very easy. There is a $100.00 Consultation Fee on the first visit, which will be deducted from the overall cost of the surgery once it is booked.
After meeting with Dr. Douglas Grace and determining which procedure is best for you, your surgery will be booked. At that time, a 25% non-refundable deposit is required. The balance for the procedure is due 2 weeks prior to surgery.
Tax Deduction Eligibility
In Canada, elective medical procedures, including cosmetic surgery, may qualify as a medical expense for income tax purposes.
In the case of cosmetic surgery, you can claim your expenses as long as the total yearly expense exceeds 3% of your total income.
| Here is an example of how it could work for you... |
| Let's say your income was |
$50,000 |
| 3% of that would be |
$1,500 |
| A cosmetic surgery such as a facelift could cost |
$10,000 |
| The first $1,500 you spend on cosmetic surgery does not qualify. The remaining amount, qualifying for tax exemption would be |
$8,500 |
| In this tax bracket, based on the 2001 tax rate, 22% of your income would go to pay income tax. |
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| Therefore, $8,500 of the money you spent on your facelift would qualify for a |
22% rebate |
In this tax bracket, based on the 2009 tax rate, 22% of your income would go to pay federal income tax and 9.15% would go towards provincial taxes in Ontario.
Therefore, $8500 of the money you spent on your facelift would qualify for a 15% non-refundable tax credit federally and a 6.05% non-refundable tax credit provincially.
It is possible for families to pool elective medical expenses and have the lowest income earner claim the credit.
Credit Medical Corporation
Many patients choose to finance their plastic surgery. Dr. Grace offers financing through Credit Medical. The Grace Clinic deals with Credit Medical Corporation for Cosmetic and elective medical procedures. Credit Medical is one of the leading institutions specializing in financing for medical procedures. Their Mission Statement is “To provide a flexible, affordable option for elective medical financing”.
They work with us and want you to feel financially comfortable with your decisions. As specialists in providing funds for elective medical procedures, here are some of the advantages of financing through them:
- Fast and easy credit approval
- Fixed interest rate throughout repayment term
- No down payment or collateral
- Flexible repayment terms (6 months to 4 years)
- Assured confidentiality
- Borrow any amount you need ($1,000. Minimum)
- Competitive interest rates
- Loans are open and can be paid out at any time
Visit Credit Medical Corporation at www.creditmedical.com
“Get the credit you deserve for deciding to be your best!”
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