Senior Tax Credit
Posted Sep 5, 2011 06:03:00 AM.
This article is more than 5 years old.
The Ontario Liberals have made a promise to create a new tax credit for seniors who need to make home renovations, if re-elected on October the 6th.
Liberal Kitchener-Waterloo candidate Eric Davis, tells 570News that the new tax credit could be claimed by seniors as well as relatives.
“It’s going to be worth 15 percent of up to 10 thousand dollars in renovations per year. Now this can be claimed by seniors for their own home or by a family member who is providing a home for an elderly relative.”
Davis adds that it’s important to make sure that seniors have the means to stay in their homes as long as possible, and some examples of renovations that can be done are chair lifts to help seniors get from floor to floor in their home, or walk in showers to help prevent slip and falls.
“What we’re really trying to do is make sure that seniors can remain at home as they age. We know that with an aging population it’s really important to allow seniors to stay at their own homes if that’s what they want to do.”
The tax credit would cost the government $120 million dollars.
