BC Seniors' Home Renovation Tax Credit: Free, by phone or online. Who it's for: BC resident on the last day of the tax year; 65 or older, or a family member living with a senior; or a person with a disability, or a….
Categories: Financial Aid, Seniors
If you are 65 or older, or live with a disability, you can get money back for home changes that make your home safer or easier to use. Family members who live with you can claim it too. You claim it when you file your taxes. ▸ Who can get this? • You live in BC on the last day of the tax year (December 31). • You are 65 or older, or you live with a senior who is 65 or older. • Or you have a disability, or live with a person who has a disability. If you qualify for the Disability Tax Credit, you qualify for this credit. ▸ What you get • 10% of what you spend on eligible renovations, up to $10,000 in costs. • That means up to $1,000 back each tax year. • It is refundable. If the credit is more than the tax you owe, you get the difference as a refund. • People who live in the same home can share the credit, up to the $1,000 total. ▸ What counts? The change must be to the home you mainly live in. It must make it easier to get in and around, or lower the risk of harm. Examples: • Grab bars, hand rails and raised toilets • Walk-in tubs and wheel-in showers • Wheelchair ramps, stair lifts and elevators • Wider doorways, lever handles and non-slip floors Not covered: appliances, regular repairs, landscaping, walkers, wheelchairs, home care and security systems. ▸ How to apply 1. Keep all receipts from suppliers and contractors. 2. When you file your income tax return, fill out form Schedule BC(S12). 3. Enter the amount you spent on form BC479, beside box 60480. ▸ What you need • Receipts for the work and materials. If a family member did the work, receipts must show a GST/HST number. ▸ Good to know • The main reason for the renovation cannot be to raise the value of your home. • You may also be able to get help paying for home changes through the Home Adaptations for Independence program.
Also known as: home renovation tax credit seniors disability accessibility grab bars ramp walk-in tub BC(S12) BC479 home adaptations
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