If you or a family members suffer from psoriasis or eczema, or if you are medically required to use a CPAP machine, the installation of a water purification system may produce a tax advantage for you. We all want to save money on our taxes, but what if you could clean up your drinking water and save money on taxes at the same time. Form T2201 may be exactly what you’re looking for.
Taxes - Installation of a Water Purification System Could be a Tax Deduction
There are a number of situations in which the installation of a water purification system could be a tax deduction.
Well water often does not meet Canadian standards for Total Dissolved Solids (TDS), and any system installed to improve well water quality is a tax deduction.
Bottom line: Improve your water quality, reduce your taxes.