Renovation Tax Credits to Aid Ontario Seniors

Homeowners who made age friendly renovations in the past year can get a bit of a tax break, and so will those homeowners and tenants who are planning future. The new Healthy Homes Renovation Tax Credit passed in the legislature on Tuesday. It applies retroactively to any permanent home modifications made after October 1, 2011, that help a person aged 65 and over with accessibility or mobility, such as ramps, walk-in bathtubs and stairlifts. It covers up to 15 per cent of the cost of improvements to a dwelling, up to an annual maximum of $1,500. Homeowners and tenants age 65 and over, as well as people living at home with a senior, are eligible for the tax credit. "Those are often cost-prohibitive (renovations)," said John Norton, director of rehabilitation services at Windsor Regional Hospital. The tax credit will help, he said, and it will certainly make a difference to those who are living on a fixed income. Norton helps patients who are discharged from the hos…
Read more
  • 0