Seniors can now get tax credit for renovations
Seniors can now get a $1,500 annual tax credit on up to $10,000 in renovations — such as wheelchair ramps and bathtub grab bars — making their homes safer to live in as they age, keeping them out of long-term care.
The tax credit, passed in the Ontario legislature Tuesday when New Democrats supported the minority Liberal government’s proposal, is retroactive to last Oct. 1.
It applies to seniors who own or rent as well as to people who share a home with a senior relative, making it more affordable to help seniors stay living in their homes without slips and falls that could send them to hospital or nursing homes for more expensive care, said Health Minister Deb Matthews.
“We’ve been waiting for almost a year to get this passed,” she said, blaming procedural wrangling in the minority legislature last spring for the delay in implementing a key commitment from the Liberal election campaign last fall.
Progressive Conservative Leader Tim Hudak said his party opposed the bill because Ontario is fighting a $14.8-billion deficit.
“We don’t have any money,” he told reporters.
By: Rob Ferguson Queen’s Park Bureau, Published on Tue Oct 02 2012 http://www.thestar.com/news/canada/2012/10/02/seniors_can_now_get_tax_credit_for_renovations.html