Ontario’s Seniors Home Safety Tax Credit Being ExtendedPublished on December 16, 2021
Ontario’s Seniors Home Safety Tax Credit Being Extended
The Ontario government is helping seniors stay in their homes longer by extending the Seniors’ Home Safety Tax Credit by one year, to 2022.
The Seniors’ Home Safety Tax Credit is a refundable credit worth 25 per cent of up to $10,000 per household in eligible expenses, to a maximum credit of $2,500. It can be shared by people who live together, including spouses and common law partners.
The extension will assist seniors, or those living with senior relatives, to renovate their homes to make them safer and more accessible.
“We are empowering Ontario’s seniors with the choice to live in their homes and remain in their community as long as they choose,” said Raymond Cho, Minister for Seniors and Accessibility. “Providing a tax credit for renovations will give seniors and their families real help to stay in their homes longer.”
“Our government continues to make the necessary investments to build Ontario and protect the progress we’ve made against COVID-19,” said Peter Bethlenfalvy, Minister of Finance. “We know that seniors would prefer to stay in their homes, where they are the most comfortable. That’s why we are pleased to bring forward this plan to give them extra time to benefit from this tax credit.”
Examples of eligible renovations include:
- Installing grab bars and related reinforcements in bathrooms
- Wheelchair ramps, stair lifts and elevators
- Light fixtures in the home and exterior entrances
- Non-slip flooring
- Automatic garage door openers
- Certain renovations to allow first-floor occupancy or a secondary suite for a senior
“We believe in putting seniors first,” said Cathy Hecimovich, CEO of the Ontario Retirement Communities Association. “We welcome this government’s efforts to help secure the safety and protection of Ontario seniors so they can thrive and continue to contribute to our great province.”
Extending the Seniors’ Home Safety Tax Credit is part of the 2021 Ontario Economic Outlook and Fiscal Review: Build Ontario. The plan lays out how the government will build the foundation for Ontario’s recovery and prosperity by getting shovels in the ground on critical infrastructure, attracting increased investment, and restoring leadership in auto manufacturing and other industries. The plan also protects Ontario’s progress against the COVID-19 pandemic.