FREE Taxation Services for Residents
Did you know residents can get their Tax Returns done for FREE??!!!
If you don’t have time to complete your income tax return, speak to your MD Financial Advisor. MD Financial has a referral network with accounting firms and qualified tax specialists throughout the country who can complete tax returns for medical residents at a discounted rate or free of charge.
Contact MD Financial for more details:
Suite 700 – 1525, Carling Avenue
Ottawa ON K1Z 8R9
Tel: (613) 722-7688
Toll-free: (800) 387-4018
Fax: (613) 729-4735
Monday – Friday
8:30am – 5:00pm
Medical Liability Protection (MLP) Reimbursement Program
As residents, we are eligible for MLP reimbursement. Do not forget to submit this form on time!
You can find the form here: http://www.health.gov.on.ca/en/pro/programs/ohip/mlp/forms.aspx
Here is the FAQ on this program:
Department of Family Medicine Funding Programs
1. Rural Rotation Reimbursement
Please use the online form in the Resident Portal available at http://femoral.med.uottawa.ca/resident/
For troubleshooting, or more information, please contact email@example.com.
2. Resident Education Fund
Residents are allowed the sum of $300.00 per year up to a maximum of $600.00 over the two years (you do not have to use exactly $300/year). Unspent funds are not claimable after the two years.
3. 2nd Parking and Taxi Reimbursement
What is 2nd parking?
During a rotation, some residents are required to pay parking at the hospital and then at the unit/community practice, therefore, the residents must pay twice for parking in the same day. Residents will need to pay for their parking at the hospital and at the unit/community practice. These residents can submit their parking receipts and/or monthly parking pass for the unit/community practice with a signed receipt from the parking attendant, for reimbursement. These receipts need to be submitted at the end of every month for reimbursement.
Please note: Parking receipts for attending the monthly Academic Days will not be reimbursed.
How to request reimbursement:
Residents are required to complete the reimbursement form and submit the required receipts. Further information is available on the form. Everything is to be sent to the PGY1 and PGY2 Coordinators. It is recommended that residents keep copies of all receipts and forms.
How will I be reimbursed?
The amount to be reimbursed will be included with your pay cheque.
4. Resident Undergraduate Teaching Fund
This fund was created on behalf of the Family Medicine residents who contribute to undergraduate medical education teaching. A stipend is offered in recognition for the resident’s time and effort invested towards the educational mission of the Faculty of Medicine.
The funds are transferred to the Department and the guidelines for those residents who have participated in the undergraduate medical education activities are as follows:
– Exam fees, elective expenses, etc. can be claimed up to 50% of the total contribution to the fund by the resident
– Medical textbooks and journal subscriptions (100% can be claimed)
– Medical software (100% can be claimed)
– Courses, Workshops etc. (100% can be claimed)
– Computer, PDA or other medical equipment (100% can be claimed)
Receipts must be dated after the teaching has been completed.
Original receipts are required for all expenses. Funds are to be spent before completion of your residency.
For transportation, the airline/train/bus ticket serves as the original receipt and should show the method of payment and the amount paid. If your airline ticket is an E-ticket, submit the Boarding Passes and receipt showing the method of payment and the amount paid.
The hotel receipt should show a balance of zero or the method of payment.
Provincial Funding Programs
1. Canada Student Loan forgiveness for family doctors and nurses
The Government of Canada offers Canada Student Loan forgiveness to eligible family doctors, residents in family medicine, nurse practitioners, and nurses who work in under-served rural or remote communities that lack the primary health care they need. This change will help more Canadians get the health care they deserve.
Loan forgiveness can only be applied to outstanding Canada Student Loan balances. Canada Student Loans that have been converted to a line of credit, private loan, or an Ontario Medical Resident Loan, are not eligible for loan forgiveness.
Canada Student Loan forgiveness applies only to the federal portion of a student loan. It does not apply to the provincial or territorial portion of a student loan.
Check if a site qualifies as under-served rural or remote using the postal code lookup tool: https://tools.canlearn.ca/cslgs-scpse/cln-cln/lfnd-erpm/1-eng.do
2. Resident Loan Interest Relief Program
The Resident Loan Interest Relief Program (RLIRP) was negotiated as part of the 2008 Physician Services Agreement to provide eligible residents with financial assistance during a critical time of professional development. Under this program, Ontario medical residents are not required, during their medical residency, to pay principal or interest on government students loans granted from any Canadian jurisdiction. Participating residents agree to provide physician services in Ontario for five years following completion of their medical residency.