Canadian Contractor

Steve Payne   

Renovating to improve a senior’s mobility in Ontario? New tax credit coming

Canadian Contractor Business

If you’re a renovator in Ontario doing accessibility renovations for a senior – like building a wheelchair ramp or installing handrails – you will soon be able to tell them that they can get a tax credit worth up to $1,500 annually.

The legislation for this accessibility tax credit was passed at Queen’s Park yesterday, by a vote of 68 to 36. Now, $1,500 in tax reductions for a crippled or disabled senior to be able to move more easily in their own home – creating jobs in the renovation business – what about that would earn 36 “no” votes?

The tax credit will be available not only to seniors who own their homes, but also tenants and people who cohabit with eligible seniors.

 

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