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Are there any home renovation tax credit options for Canadians?

Are you thinking about making any renovations to your home? Or have you done so in the past couple of years? In Ontario, you may be eligible for a home renovation tax credit or housing rebate – especially if you are 65 or older.  This is part of the government’s effort to increase the number of healthy, environmentally friendly homes.  Regardless of your income, you and your family might qualify for a tax credit or rebate.

Here is an overview of some of your options:

Healthy Homes Renovation Tax Credit

This is a permanent personal income tax credit for seniors over the age of 65 and the relatives who live with them. Those who qualify can claim up to $10,000 worth of certain home improvements on tax returns. The amount of credit you could get back is calculated as 15% of the eligible expenses claimed.

What home improvements qualify?

Not all home renovation works qualify for this tax credit. Examples of work that DOES qualify include:

  • Wheel-in shower installation
  • Walk-in bathtub installation
  • Lowering of existing cupboards and counters
  • Renovations that allow for a first-floor occupancy for a senior
  • Widening of doors
  • Handrails
  • Grab bars in the bathroom, near the tub and toilet
  • Non-slip flooring
  • Wheelchair ramps and stair lifts or elevators
  • Easy to use door locks
  • Motion-activated lighting
  • Touch-and-release cupboards and doors

Some examples of work that doesn’t qualify for this specific tax credit include regular plumbing and/or electrical work, new window installations, and roof repairs. The devices themselves, such as wheelchairs, fire extinguishers, and monitoring equipment, do not qualify, nor do services such as housekeeping and homecare.

How do you get the credit?

Schedule ON (S12) must be completed on your tax return. The amount you spent on the eligible renovations should be entered on form ON (479) next to box 6311. Even if a relative or friend did the renovation work free of charge, you can still claim the amount you spent for the modification and materials.

Save all of the receipts related to the home improvement, including the ones that might not seem important.

Goods and Services Tax – Harmonized Sales Tax Rebate

The GST/HST offers housing rebates for individuals who have purchased a new home, substantially renovated their home, leased land for residential rentals, etc. For eligibility, the substantial renovation must include major changes. In general, 90% or more of the interior of the existing home has to be replaced or removed. Supporting walls, floors, roof, staircases, and the foundation do not have to be replaced or removed. The substantial renovation only includes livable areas. Finished basements and attics apply; crawl spaces and garages do not.

You may also qualify for this home renovation rebate when you convert a commercial property to a home or hire someone to build a major addition to your current home.  This addition should be at least twice the size of the existing livable area.

If you want to find out whether you qualify for home renovation tax credit, consult with a tax professional that specializes in your area.

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Hear What Our Customer Are Saying About Us

  • "After requesting a quote for finishing a basement and working within the constraints of my budget, I went with RenoPros. The team arrived on time and ran every idea by me, as well as recommended what materials are best to be used in what area. The job was complete in a professional manner and I am very happy I chose The RenoPros"

    John Charette from Toronto
    John Charette from Toronto
  • "I was hesitant at first to rely on a third-party service to re-do two bedrooms in my house but the guys at RenoPros assured me they would work closely with me to fit my needs. I chose two different designs, and now both bedrooms actually feel good to be in. Great job"

    Jane from North York
    Jane from North York
  • "Our husband and I needed to renovate our basement at an affordable price. We found RenoPros and their staff and crafting was spot on, they let us customize everything to our liking and were very friendly and accommodating. Would do business with again, thanks!"

    Andrew from Etobicoke
    Andrew from Etobicoke
  • "We are so happy with our new kitchen and main floor renovation. The upgraded wife flooring was an excellent suggestion and the apron sink make the house feel brand new. The project manager was helpful, organized and I would definitely call them for any future renovation needs."

    Faheed from Richmond Hill
    Faheed from Richmond Hill

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