Healthy Homes Renovation Tax Credit
As a senior 65 years or older in Ontario, you could qualify for a tax credit to help with the cost of making your home safer and more accessible.
About the Credit
The Healthy Homes Renovation Tax Credit is a permanent, refundable personal income tax credit for seniors and family members who live with them. If you qualify, you can claim up to $10,000 in eligible home improvements on your tax return. The amount of money you get back for these expenses is calculated as 15% of the eligible expenses you claim. For example, if you spend and then claim $10,000 in eligible expenses, you could get $1,500 back.
For more information, visit Healthy Homes Renovation Tax Credit.
Choosing a Renovation Company
First and foremost, you’ll want to choose a company that has a good reputation and makes you feel comfortable. Be sure to find out as much as you can by asking a lot of questions such as:
How long have you been in business?
Can you provide references?
What work are you, or your subcontractors, licensed to do (e.g., electrical, plumbing)?
What kind of work do you specialize in?
Have you done a similar job before?
How would you handle a specific problem related to this project (e.g., installing kitchen cabinets on your sloping floor)?
What work schedule will you follow?
What kind of warranty do you offer and what does it cover?
Do you carry workers’ compensation and liability insurance?
Will you provide a written contract?
Will you take out all required permits (e.g., building, plumbing, electrical)?
See why it’s a good idea to hire a contractor with workers’ compensation and liability insurance.