Some seniors missing out on tax credit for home upgrades
Ontario seniors have just a few more days to qualify for a tax credit for making renovations to their home that will improve accessibility.
The actual credit is 15% of the cost of the renovations and seniors at all income levels can qualify.
The maximum amount a resident, including people who share a home with a relative who's a senior, can claim in any given year is $10,000 in renovations, which could entitle them to up to a $1,500 refund.
Home improvements such as insulation or roof repairs, or upgrades to increase a home's value such as a new garage door, aren't eligible - although a garage door opener might be. As would stair lifts, wheelchair ramps, handrails, adjustable counters, non-slip flooring and wider doors.
Installation of walk-in bathtubs and showers, lowering counters and
making light switches, electrical outlets and door locks easier for
access are also included in the eligible expenses, among a number of
By Gordon Powers, MSN Money