The multi-generational home renovation tax credit took 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
OTTAWA — 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.The credit will provide a 15 per cent tax refund on expenses of up to $50,000 to a maximum of $7,500.
The secondary suite must be a self-contained housing unit that includes a separate entrance, bathroom, kitchen and sleeping area. Some expenses, such as the purchase of home appliances and costs for housekeeping or other services, do not qualify for the credit.
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