Federal Tax Credit for Multi-Generational Home Renovations Now Available to Canadians

Started by Epoch-Times-Bot, Jan 11, 2023, 01:45 PM

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Epoch-Times-Bot

Jan 11, 2023, 01:45 PM
Federal Tax Credit for Multi-Generational Home Renovations Now Available to Canadians

The federal government is offering a new tax credit to help make it easier for Canadians to care for adult relatives in their own homes.
The multi-generational home renovation tax credit took effect Jan. 1 for expenses related to building a secondary suite for a family member who is a senior or an adult with a disability.
The credit will provide a 15 percent tax refund on expenses of up to $50,000 to a maximum of $7,500.
The secondary suite must be for a related adult over the age of 65 or living with a disability, including a grandparent, parent, child, grandchild, sibling, aunt, uncle, niece or nephew....

Source: Federal Tax Credit for Multi-Generational Home Renovations Now Available to Canadians

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