Plumbing repairs are an unfortunate necessity of life, and one we seldom think of budgeting for. Luckily, there are several programs to help you deal with unexpected costs, and some of these offer tax credit options for certain repairs. Preparing your home for (or your parents’) senior years is one of them, simply because the Ontario government promotes aging-in-place as much as possible. Through Ontario’s Healthy Home Renovation Tax Credit, homeowners can get a tax credit for seniors and family members who live with them.
Who Can Get the Credit?
You can access the Home renovation Tax Credit if you are:
- Anyone 65 years of age or older at the end of the year that you are claiming the credit for; or
- Live with a family member who is a senior
A wonderful aspect of this tax credit is that your level of income doesn’t matter. All seniors and their family members are eligible, regardless of income status.
Eligible Expenses
A tax credit is only beneficial if it actually covers what you need. You’d be surprised at how much is actually covered! Examples include:
- Grab bars and other similar types of reinforcements installed around the toilet, tub, and shower
- Handrails in various corridors
- Wheelchair access features, such as ramps, lifts or elevators
- Walk-in bathtubs and showers
- Comfort height toilets
- The widening of doorways by using “swing-clear” hinges
- Lowering the height of existing counters and cupboards
- Installment of adjustable counters/cupboards
- Making light switches and electrical outlets accessible
- Easily operated door locks
- Replacement of knobs on doors and taps with lever handles
- Pull out shelves that allow you to remain seated while you work
- Non-slip forms of flooring
- Hand-held shower heads mounted on an adjustable rod or brackets
- Fitting extra lights both in- and outside the home
- Relocating taps to the front or side for easier access
- Taps that operate without touching them
- Motion-activated lighting
- Automatic garage doors
It isn’t easy getting older. People talk about aging with grace but don’t realize the struggles that many people face every day. The simplest tasks become impossible all too quickly. Thankfully, the world is starting to realize these issues and in Canadian, the various levels of government have tried to make resources easier to access.
Through the Healthy Homes Renovation Tax Credit, you could claim up to $10,000 in Toronto plumbing rebate assistance for home improvements on your tax return. The way that it is calculated is at a rate of 15% of eligible expenses on your claim. So means if you spend $10,000 on eligible expenses, you could get $1,500 back.
There are not a lot of home renovations that are eligible for tax credits, and preparing your home for you or your family members is one of them. Another option is the installation of low-flush toilets, which promotes the local efforts to reduce water consumption. Talk to your local contractor, talk to your family members and take a look at how you can make your home safer.
