“Improve Your Home and Save with the Ontario Healthy Homes Renovation Tax Credit”
Are you a senior or do you have a senior family member living with you? If so, you may be eligible for the Ontario Healthy Homes Renovation Tax Credit, a permanent personal income tax refund offered by the Ontario government.
This tax credit allows eligible applicants to claim up to $10,000 in home modifications on their tax returns and receive back 15% of the eligible expenses, with a maximum credit of $10,000 per couple. To be eligible, you must be 65 years or older by the end of the tax year, or modifying your home to accommodate a live-in senior relative.
The types of eligible renovations include walk-in bathtubs, wheelchair ramps, non-slip flooring, grab bars, and more. However, expenses for labor and certain medical or safety equipment are not eligible for the tax credit.
To take advantage of this opportunity, it’s important to keep all receipts from retailers, suppliers, and contractors related to the home modifications. You can then claim the total expenses on your personal income tax return and potentially receive a significant amount back.
An online calculator is available on the Ontario government’s website to help you determine how much money you could get back. To find out more about the Healthy Homes Renovation Tax Credit, visit ontario.ca/healthyhomes or call 1-866-668-8297.
Don’t miss out on this opportunity to improve your home and save money. Take advantage of the Ontario Healthy Homes Renovation Tax Credit today!
To stay in your current home and renovate or move?
This is a question that many people ask themselves at the beginning of every year. This article may help explain the current real estate market today: https://katharineloucaidougroup.com/what-does-a-recession-mean-to-the-housing-market-and-how-will-it-impact-the-sale-of-your-home/
Wondering what your Home is Worth?
Click on the link to receive a Quick Online Home Valuation: https://katharineloucaidougroup.com/register-updates/
