{"id":1410,"date":"2017-02-18T11:39:35","date_gmt":"2017-02-18T16:39:35","guid":{"rendered":"https:\/\/blog.freedomshowers.com\/?p=1410"},"modified":"2023-08-18T09:40:52","modified_gmt":"2023-08-18T13:40:52","slug":"home-accessibility-tax-credit","status":"publish","type":"post","link":"https:\/\/www.freedomshowers.com\/blog\/home-accessibility-tax-credit\/","title":{"rendered":"Canadians! Get $1,500 towards Accessible Renovations with HATC"},"content":{"rendered":"
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THIS INFORMAITON HAS BEEN UPDATED – SEE NEW POST\u00a0<\/a><\/p>\n

Did you know?<\/span> <\/strong>For the first time in recorded Canadian history, there are more citizens over the age of 65 than there are under the age of 15. Incredible right? It\u2019s a combination of families having fewer children, the baby boomer generation becoming senior citizens, and Canadians living longer.<\/strong><\/p>\n

The Canadian government has long taken notice of this trend and has begun to put more thought into the long-term impact of an aging population on the national and provincial budgets.<\/p>\n

They\u2019ve come to realize two things:<\/em><\/p>\n

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  1. Canadians want to live in their own homes for as long as possible<\/li>\n
  2. Helping Canadians age-in-place is not only better for Canadians, but it can also be more affordable when compared to funding long-term care facilities.<\/li>\n<\/ol>\n

    And that\u2019s part of the reason why we now have the Home Accessibility Tax Credit (HATC)<\/span>.
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    Home Accessibility Tax Credit? What is it?<\/span><\/h3>\n

    What better way to reduce the tax burden of funding expensive long-term facilities than to offer Canadians tax relief on age-proofing their home?<\/p>\n

    The HATC is a non-refundable tax credit worth up to $1,500<\/strong>. Qualified individuals can receive 15% in tax relief on up to $10,000 in eligible renovations. The tax credit took effect in 2016 and is an annual tax deduction, meaning if you require more accessible renovations in the following tax season then you can again deduct eligible renovation expenses from your federal taxes.<\/p>\n

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    Who qualifies?<\/span><\/h3>\n

    If you\u2019re over 65<\/strong> or have a disability tax certificate<\/strong>, then you are a qualifying individual.<\/p>\n

    OR<\/p>\n

    If you support a qualified individual<\/strong>, you may also qualify for tax relief.<\/p>\n

    Examples:<\/em><\/p>\n