How to qualify for a home renovation tax credit

by | Aug 7, 2023 | Financial Aid | 0 comments

The majority of Canadians want to live in their homes for as long as possible. Aging in place offers the promise of greater independence and self-esteem, and the comfort of familiar environs – both in the home and within the local community. And a recent survey conducted by the Canadian Institute for Health Information determined that nearly 13% of residents newly admitted to long-term care facilities in BC could potentially have been cared for at home instead.

To successfully age in place, it’s important for seniors and persons with disabilities with to have access to the services and health supports they need to live safely and independently for as long as possible. Individuals and their support network also need to think ahead and peer honestly into the future, anticipating what life will be like 10 and even 20+ years ahead. Thinking and acting proactively creates the best foundation for successfully aging in place for decades to come.

Planning so far ahead may seem like a daunting exercise, but we’re here to help. At Kootenay Columbia Home Medical Equipment, we provide the consultative advice and innovative solutions our clients need to strategically prepare for the future. In our experience, we know that it can require a significant financial investment for individuals to age gracefully in their own homes – but the physical and emotional wellness benefits significantly outweigh the initial costs.

Governments are well aware of all the advantages of aging in place. There’s less strain on building, funding and maintaining long-term care facilities, less pressure on the healthcare system and – let’s face it – a happier population which translates to happier voters.

In BC, the provincial government has offered a home renovation tax credit for seniors and persons with disabilities since 2021. The tax credit is eligible for qualifying residents of BC who are a senior or a family member living with a senior; or a person with a disability or a family member living with a person with a disability. The intent of the tax credit is to help offset the costs involved in home renovations that improve accessibility or functionality. Successful applicants can receive up to a maximum of $1,000 per tax year, which is calculated as a 10% government rebate on a qualifying renovation expense (maximum of $10,000 in expenses).

Items that qualify for the BC home renovation tax credit for seniors and persons with disabilities

The purpose of the home renovation tax credit is to improve the quality of life at home for seniors and persons with disabilities. There is a wide variety of items that qualify for the tax credit, many of which are offered by Kootenay Columbia Home Medical Equipment for our clients throughout the East and West Kootenays. The tax credit covers both any goods purchased and the service fees incurred for installation costs (if required). Examples include:

  • Bath lifts
  • Floor-to-ceiling poles
  • Grab bars around the toilet, tub and/or shower
  • Hand rails for use in corridors
  • Home elevators
  • Lifts for stairs
  • Patient lifts
  • Porch lifts
  • Raised toilets
  • Walk-in bathtubs
  • Wheel-in showers
  • Wheelchair ramps

While some of the expenses incurred to help seniors age in place are eligible for a tax credit, the list is by no means endless. Naturally, general home maintenance expenses such as a roof repair or a new furnace are not covered under this specific tax credit program. Items that are not home fixtures such as wheelchairs, walkers and vehicles adapted to accommodate mobility limitations are also not covered, as are home care and housekeeping services.

You can claim your tax credit when you file your T1 income tax return. Additional details on how to claim the BC home renovation tax credit for seniors and persons with disabilities can be found here at the bottom of the page; you will also find links to the requisite forms you need to complete your application.

There are a number of other funding options available, some of which we will be covering in detail in future posts. The BC Government also has a webpage that lists all its Home Improvement Assistance Programs, including the BC Rebate for Accessible Home Adaptations (BC RAHA). Make sure to follow us on your favourite social media channel so you can receive the latest home medical news on funding options and more from Kootenay Columbia Home Medical.

Have any questions about what equipment and services we offer that are covered under the home renovation tax credit? Contact us now to arrange a call with one of our home medical equipment specialists. We also offer a complementary Guide to Getting Care and Support in the Kootenays which you can request on our website at your convenience.

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