The federal government is offering a new tax credit to help make it easier for Canadians to care for adult relatives in their own homes.
taxThe multi-generational home renovationtook effect Jan. 1 for expenses related to building a secondary suite for a family member who is a senior or an adult with a disability.The secondary suite must be for a related adult over the age of 65 or living with a disability, including a grandparent, parent, child, grandchild, sibling, aunt, uncle, niece or nephew.unit that includes a separate entrance, bathroom, kitchen and sleeping area.
Additionally, the home being renovated must be inhabited or reasonably expected to be inhabited within 12 months after the end of the renovations. Some expenses, such as the purchase of home appliances and costs for housekeeping or other services, do not qualify for thewill cost the federal government $44 million over the next five years.affordability measures promised by the Liberals in the last election and included in the 2022 budget last April.
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