A new tax credits for seniors who are looking to make their homes more accessible was announced in today’s federal budget! Give us a call if this news has you excited to make some changes at home!

 

The HATC will help seniors and disabled persons pay for the cost of renovations to make their homes safer and more accessible. With up to $10,000 eligible to be claimed, now may be the time to make your home more accessible. The new home-accessibility tax credit applies starting next year to both seniors and people with disabilities. Up to $1,500 in tax relief would be available for renovations such as wheelchair ramps, walk-in bathtubs, wheel-in showers and grab bars. At an estimated cost of $180 million over the next five years, this is the third largest reduction of tax revenues for the personal income tax.

Tags: accessibility budget hatc renovation tax credit