Revamp your home for accessibility and qualify for federal tax credits up to $7500!

If you’ve renovated your home to accommodate an elderly or handicapped relative, you may qualify for federal tax credits:

Basic Accessibility Renovations: Up to $3,000

  • Eligible for expenses incurred to enhance safety and accessibility in your residence.

Enhanced Credit for Independent Dwelling: Up to $7,500 (Starting 2023)

  • Available for creating an independent dwelling unit within your home, supporting multigenerational living.

Who Qualifies:

  • Must be your primary residence.
  • Relative benefiting from renovations should be handicapped or aged 65 or older.

How to Claim:

  • Keep detailed records of renovation expenses.
  • Consult with your tax advisor for proper documentation and submission during tax filing.

For personalized advice on eligibility and maximizing these tax credits, consult with your SJ Chartered Accountants advisor. Ensure you make the most of these opportunities to enhance your home and support your loved ones!