Multigenerational Home Renovation Tax Credit

Good news to exisitng homeowners looking at potentially adding a secondary suite to their home for an extented family member to live with them. To be eligible, the renovation must be completed in the owner’s primary residence where they live with a senior or disabled person. The tax credit covers 15 per cent of costs to a maximum of $7,500. Eligible expenses would include the cost of labour, building materials, equipment rentals and permits. Non-eligible expense examples include furniture, construction and equipment tools, routine repair or maintenance costs, household appliances and devices and landscaping or security services. Remember to keep your receipts in order to qualify!