The Seniors Home Safety Tax Credit will be extended by one year to 2022. It is good news for local seniors, according to Perth-Wellington MPP Randy Pettapiece.
“People should be able to enjoy the comfort of their home for as long as they want,” said Perth-Wellington MPP Randy Pettapiece. “Extending the tax credit will help. It will make their homes safer and more accessible.”
This is the second consecutive year this tax credit has been available to seniors and those living with them. It covers renovations to make their homes safer and more accessible. Twenty-five percent of up to a maximum of $10,000 per household can be claimed on eligible expenses.
“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.”
It will provide an estimated $30 million in support to about 27,000 people. This includes seniors who are 65 or older by the end of 2021 and those who live with senior relatives. The tax credit can be claimed when filing your personal income tax return for the 2021 taxation year.