Disability Tax Credit Bridges the Financial Gap Caused by Depression
A new article on the examiner.com website casts a light on a growing problem: depression in the workplace.
More than half of workers with depression do not recognized [sic] that they need treatment, say researchers at the Centre for Addiction and Mental Health (CAMH) in Toronto, Canada. They say that the unrecognized need for care creates a barrier to treatment and can cause productivity loss in the workplace.
The conclusion is drawn from the fact that although as many as 40% of workers surveyed showed signs of depression, less than half realized they might be depressed. As the article states:
“Our results suggest that a significant number of workers who are experiencing symptoms of depression do not recognize they could benefit from help, and so do not seek it,” says Dr. Carolyn Dewa, head of CAMH’s Centre for Research on Employment and Workplace Health and lead author of the study.
This may seem like a fairly insignificant problem in a world of nuclear weapons and climate change but consider this: research by the Centre for Addiction and Mental Health (CAMH) in Toronto indicates depression costs the Canadian economy over $50 billion per year. Contrast that to the entire defense budget for Canada in 2014 of $18.4 billion and you start to understand the scope of the problem.
But why are so many Canadians depressed on the job? Is it that they all bring the disorder with them to work or could work environments themselves be contributing to the situation? In all likelihood many people’s depression was in place long before they arrived at a particular job, but not everyone’s. Some work conditions that could contribute to developing depressive symptoms include:
- Unusual hours
- Fear of downsizing
- High pressure environment
- Reduced wages and/or benefits
- Feeling unappreciated/underutilized
- Harassment by fellow workers/bullying
- Loss of a supportive superior
For many who suffer depression on the job there are very few avenues of relief. Some will find supportive co-workers but many who do not suffer in silence and will wind up either leaving their job on their own or being released. Losing one’s job due to depression can create a downward spiral as the emotional distress caused by unemployment puts additional stress on the person’s already fragile state. Without assistance from programs like the Disability Tax Credit many of these individuals would find themselves in very difficult situations indeed.
The Depressed Need Allies: the Disability Tax Credit is One
According to the website sciencedaily.com depression affects 121 million people worldwide. It’s not something restricted to a certain age group or ethnic background. It’s an equal opportunity destroyer. In addition, women are twice as likely to suffer depressive symptoms as men and more than 800,000 people worldwide take their lives each year due to the disorder.
According to Dr Robert Leahy on huffingtonpost.com depressed individuals will earn 35% less over the course of their working lives than they would if they were not depressed. When you consider this lost income occurs concurrently with increased medical and therapeutic costs it becomes apparent the vital role the Disability Tax Credit plays in helping those with depressive disorders stay afloat financially while they seek help for their condition.
The Disability Tax Credit was envisioned as a way to provide those disabled by depression or other conditions with a way to tackle their overwhelming healthcare bills and stay active, productive members of society. The theory is a sound one as it’s been proven time and again that allowing those on the brink to fall through rips in the social safety net does little but dramatically increase the cost of aiding them after the fact.
Suffering With Depression? Find Out If You’re Entitled to Help By Contacting Us Today
Call Disability Credit Canada for more information on this important government tax initiative. We’re powerful advocates for the disabled when it comes to securing them their rightful benefits under the Disability Tax Credit. We believe no disabled citizen who is eligible for these benefits should ever be turned away and we will fight for your case right up to final approval. Call today to find out more. You may be eligible for up to $40,000 in annual benefits.