OREA has written the Minister of Finance, the Honourable Dwight Duncan, in support of the provincial government’s plan to implement a Healthy Home Renovation Tax Credit (HHRTC). Homeowners will qualify for a tax credit when they undertake a home retrofit for accessibility purposes.
As part of OREA’s “Home Ownership Matters” REALTORS® are advocating in support of a permanent home renovation tax rebate. The HHRTC is a targeted tax measure that, in her letter to the Finance Minister, OREA President Barb Sukkau described as, “a fiscally responsible good first step.”
The HHRTC would be worth up to $1,500 each year, calculated as 15 per cent of up to $10,000 in eligible home renovation expenses that would help seniors stay safely in their homes. It could be claimed by senior homeowners and tenants, and people who share a home with a senior relative.
Examples of eligible renovations include:
- Walk-in bathtubs
- Wheel-in showers
- Widening passage doors
- Lowering existing counters/cupboards
For more information, click here.