Ontario Seniors get $10K Tax Credit for Renovations
Ten thousand dollars in Tax credit will be available for Ontario seniors to renovate and improve accessibility. The bill passed in Ontario government with majority in favor.
It was a promise Premier Dalton McGuinty made a year ago during the last election campaign. Navtaj Chandhoke, founder of Professional Real Estate Investors Group (PREIG) Canada said, "The tax credit is up to $10,000.00 in eligible home renovations or 15% up to $1,500 each year"
Health Minister Deb Matthews says in a press release.This Healthy home renovation tax credit will also help achieve the goals of our Action Plan for Health Care by keeping our loved ones out of hospitals and long-term care, and at home, where they want to be.
Homes Renovation Tax Credit
How Healthy Homes Renovation Tax Credit for Seniors works?
"The wheelchair ramps, elevators, non-slip bathroom flooring, hands-free taps, automatic garage door owners and motion-activated lighting qualify for this tax credit including grab bars, walk-in bathtubs, Healthy Homes Renovation Tax Credit does not cover the services of Services home security,housekeeping, regular house repairs and wheelchairs/walkers. Healthy home renovation tax credit can be claimed by senior homeowners in Ontario, tenants and people who share a home with a relative who's a senior" says Navtaj Chandhoke, founder of World Wealth Builders, a Canadian Real Estate Investment Training center.
If you would like to either consult the Ministry of Finance on this tax credit to get in depth details please visit http://www.fin.gov.on.ca/
Canada Revenue Agency (CRA) can demands proof of expenses and claimants don't need to submit receipts, although they should be kept in case. There is no income cut off.
This is Healthy home renovation tax credit for Ontario senior homeowners, tenants and people who share a home with a relative who's a senior.
WorldWealthBuilders.com have a list of Canadian grants, tax credits and rebates for Real Estate Canadian Real Estate investors can take advantage of these programs for their Canadian Real Estate investments.
World Wealth Builders conveys action-orientated Real Estate training, apprenticeship, coaching and mentoring for Canadian Real Estate investments since 1993 World Wealth Builders have been providing Canadian Real Estate wealth creating secrets, innovative strategies and step-by-step practical how-to methods through dynamic hands-on apprenticeships for Canadian investors.
Navtaj Chandhoke is a Canadian-based real estate investor, speaker, author, educator and the founder of World Wealth Builders and Professional Real Estate Investors Group (PREIG) Canada, the leading REI Club providing Canadian investors education, mentoring, support and network.
Your success is our business!
Website: www.WorldWealthBuilders.com | www.preigCanada.com
Newsletter: Subscribe REI Club Membership | Apprenticeship | LIVE Training
Blog | Facebook | LinkedIn | Google+ | Twitter