10% Provincial Tax Credit - The Home Renovation Tax Credit
The BC Home Renovation Tax Credit assists eligible individuals 65 and over and persons with disabilities with the cost of certain permanent home renovations to improve accessibility or be more functional or mobile at home.
The program for seniors (and family members living with seniors) started April 1, 2012. Effective February 17, 2016, the program was extended to persons with disabilities (and family members living with those individuals) and renamed the Home Renovation Tax Credit for Seniors and Persons with Disabilities.
The credit can be shared between eligible home residents. The maximum amount of the credit is $1,000 per tax year, calculated as 10% of the qualifying renovation expense (maximum $10,000 in expense).
Since 2016, ShelfGenie of Vancouver and Okanagan has been helping eligible individuals qualify by designing, building and installing sliding pull-out shelves allowing greater and safer access to existing home spaces.
For more information and to confirm tax credits availability and eligibility, please contact the CRA at 1-800-959-8281 or your local tax adviser.
15% Federal Tax Credit – The Canadian Federal Home Accessibility Tax Credit
The Home Accessibility Tax Credit assists individuals 65+ and individuals with disability with the cost of certain permanent home renovations to improve accessibility or help these qualified individuals be more mobile at home.
Starting 2016, the Home Accessibility Tax Credit is available to seniors or those eligible to claim the Disability Tax Credit. This non-refundable tax credit is worth up to $3,000 per year, calculated as 15% of up to $20,000 eligible permanent home renovation expenditures for the eligible dwelling.
For those eligible, your ShelfGenie project should qualify under this program.
See If You Qualify Today
For more information and to confirm tax credits availability and eligibility, please visit the Canada Revenue Agency website or contact the CRA at 1-800-959-8281 or your local tax adviser.
