If you’re planning on staying in your home as you get older, the costs associated with aging in place can quickly add up — especially when you’re retired and on a fixed income. According to our 2017 Aging in Place Report, 62% of Canadian homeowners are unaware that tax benefits are available for aging-related home modifications. This means that most Canadians may not be making much-needed home adjustments, despite government funding being available.
Whether you’re in need of modifications right now or starting to plan ahead, here are the aging in place tax credits, grant and loans that are available across Canada right now that you may be eligible to claim.
Home Accessibility Tax Credit
Credit: Maximum of $1,500 (15% of amount spent).
Eligibility: Canadians over the age of 65 or individual with a disability, or a person living with an eligible individual.
Details: The Home Accessibility Tax Credit is provided by the Government of Canada for eligible individuals who are making accessibility renovations that are integral to living within their homes. When filing your taxes, you can claim a maximum renovation cost of $10,000 and receive a credit of 15% of the amount you spent.
Unfortunately, the Healthy Homes Renovation Tax Credit was discontinued at the beginning of 2017; however, 211 Ontario will help you find programs in your municipality. For instance, here’s one that’s available in the city of Toronto:
Toronto Renovates Homeowners Program
Funding: Contact for more details.
Eligibility: Torontonians age 65 or older, or individuals with a disability, with a household income of less than $40,222-$90,500, depending on how many individuals live in your home.
Details: The Toronto Renovates Homeowners Program provides funding to lower-income seniors making required aging in place modifications. Applications are reviewed on a case-by-case basis and the amount of funding received is determined accordingly.
Seniors Home Adaptation and Repair Program
Loan: Low-interest loan of up to $40,000.
Eligibility: Albertans aged 65 or older with income of less than $75,000.
Details: If work around the home is needed to make it more functional as you age, the Government of Alberta will provide a low-interest loan of up to $40,000 for seniors who earn less than $75,000 per year. At the time of publication, the interest rate is 3.20%, but visit the SHARP website to see the current rate and for additional information to see if you’re eligible.
Home Renovation Tax Credit for Seniors and Persons with Disabilities
Credit: Maximum of $1,000 (10% of amount spent).
Eligibility: B.C. residents 65 and older or with a disability, or a person living with an eligible individual.
Details: With the Home Renovation Tax Credit, many common renovations that improve your ability to function within your home or reduce your risk of harm can be claimed. You can receive a credit of 10% of the total amount spent, with a maximum of $10,000 per year spent in renovations (receiving a maximum credit of $1,000 per year).
Home Repair Program
Grant: Forgivable loan of up to $23,000.
Eligibility: Saskatchewan residents who own and occupy or have a household member with a housing-related disability and an annual household income under $42,000-$76,400, depending on number of rooms in household. The loan is also available for rental property owners who have low-income residents with a housing-related disability.
Details: Saskatchewan’s Home Repair Program will help equip your home with the modifications you need by loaning you the amount required. As long as all conditions are met, you may not need to repay the loan.
If you just need specific equipment like wall bars or raised toilet seats, you may also want to consider the Special Needs Equipment loan program, which will loan you any required equipment and even maintain it free of charge.
Home Adaptations for Seniors’ Independence Program
Grant: Forgivable loan of up to $3,500 that doesn’t need to be repaid as long as you live in your home for six months after the modifications are made.
Eligibility: Manitoba homeowners and landlords earning less than the Housing Income Limit in their area and whose senior occupant is 65 or older.
Visit the Home Adaptations for Seniors’ Independence Program will help with upfront costs of home modifications needed to assist with senior living. Note that all repairs must be started within 60 days of approval and be completed within 90 days of approval, so try to do as much preparation as possible before applying so you can meet these deadlines.
Seniors’ Home Renovation Tax Credit
Credit: Maximum of $1,000 (10% of amount spent).
Eligibility: New Brunswick residents who are seniors or a family member living with a senior.
Details: The Seniors’ Home Renovation Tax Credit allows for a maximum $10,000 worth of aging in place home modifications to be claimed and be issued 10% of the amount spent. This program is fairly straightforward and does not have any income requirements.
Prince Edward Island
Seniors Safe @ Home Program
Grant: $1,000-$5,000, depending on annual income.
Eligibility: PEI residents age 60 or over with annual net household income less than $50,000.
Details: PEI’s Seniors Safe @ Home Program provides assistance to low income senior homeowners or family members who own and live with a senior in the form of a grant for aging in place modifications. Note that you’ll need to submit two estimates for the cost of work along with your application (which is best practice anyway).
Home Adaptations for Seniors’ Independence
Grant: Forgivable loan of up to $3,500 that doesn’t need to be repaid as long as recipient lives in their home for a minimum of six months after the modifications are made.
Eligibility: Nova Scotia residents age 65 or older experiencing difficulty with daily activities due to age with a total household income below the established income limit (varies depending on household size and area).
Details: The Home Adaptations for Seniors’ Independence program provides up to $3,500 towards common minor permanent adjustments like handrails and walk-in showers, but exceptions can be made for other types of equipment like bath lifts. Aids like walkers and household appliances are not covered by this program.
Newfoundland & Labrador
Home Modification Program
Loan/Grant: Forgivable loan of up to $7,500 or a repayable loan of up to $10,000.
Eligibility: Newfoundland & Labrador residents with an annual income of $46,500 or less, with a report from an Occupational Therapist.
Details: The Home Modification Program provides funding for lower-income seniors and those in need of accessibility home modifications with a forgivable loan of up to $7,500. Repairs that exceed that amount can receive a repayable loan of up to $10,000, or $13,000 in Labrador.
Residential Adaptation Assistance Program
Grant: Maximum of $16,000.
Eligibility: Quebec residents in need of disability-related home modifications.
Details: The Residential Adaptation Assistance Program provides funding to both homeowners and owners of rental properties with assistance for accessibility modifications like access ramps, remodeling a bathroom or widening door frames. If specialized equipment is required, additional assistance of up to $10,000 may be paid as well. The total amount received will vary depending on annual income.
Accessibility Enhancement Grant
Grant: Maximum of $25,000 per unit or $50,000 per multi-residential building.
Eligibility: Yukon resident or business.
Details: The Accessibility Enhancement Grant provides homeowners or landlords with funding to assist with accessibility-related home improvement, and is subject to the discretion of the Yukon Housing Corporation for eligibility requirements.
Senior Citizens Home Repair Program
Grant: Maximum of $15,000, plus freight costs.
Eligibility: Nunavut residents age 60+ in need of aging in place repair or modifications.
Details: The Senior Citizens Home Repair Program provides assistance to seniors in need of modifications or repairs to make their homes more accessible. The amount received will depend on income and priority of repairs. Should a service professional not be available in the person’s area, the program will help bring in a professional and cover their travel costs.
How do your plans for aging in place measure up to other Canadians? See our 2017 Aging in Place Report to find out!