Seniors’ Home Safety Tax Credit
October 4, 2021NIPISSING – MPP Vic Fedeli wants to remind seniors to take advantage of available tax credits like the Seniors’ Home Safety Tax Credit.
“Since the beginning of the pandemic, our government has introduced several tax credits that help the constituents of Nipissing navigate the challenges caused by COVID-19,” said Vic Fedeli, MPP for Nipissing. “This Seniors Home Safety Tax Credit will help seniors who need important safety upgrades to stay in their home.”
To help our seniors age in place, our government has allocated $30 million in support to about 27,000 people including seniors who are 65 or older by the end of 2021. It will help fund a tax credit of up to 25% on home renovations designed to keep seniors in their homes up to a maximum of $10,000.
This benefit applies to homeowners who have a senior living with them as a primary resident. To claim the tax credit, seniors or their family members should get receipts from suppliers and contractors.
Examples of eligible expenses that can be claimed when filing taxes for the 2021 taxation year include:
- grab bars
- wheelchair ramps
- stair lifts
- walk-in tubs
- renovations to move a senior to the first floor of a home
“This tax credit is great for all concerned. Consumers or their caregivers save 25 per cent on eligible expenses just by filing their tax return,” said John Tom, owner of Superior Home Health Care. “They don’t have to apply for a grant or ask for permission, and taxpayers save as the program has almost no administration costs. I commend the Ontario government for making Aging in Place more affordable.”
“The provincial Seniors’ Home Safety Tax Credit is an important grant that is helping seniors age in place and comfort within their own homes,” said Bob Schickedanz, president of the Ontario Home Builders’ Association. “I am glad to hear that seniors and their families across Ontario are utilizing this program to make their homes more accessible, while also providing an important boost to the professional renovation sector who make these transformative changes happen.”
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