BC Home Accessibilty Tax CreditPosted April 24, 2015
You May Qualify for the BC Home Accessibility Tax Credit
Qualifying home-owners may use the tax credit to offset or reduce purchases of equipment such as stairlifts, vertical platform lifts, grab bars and superpoles, ramps and other equipment, as well as home modifications.
On April 21, 2015, the federal government introduced a new ‘Home Accessibility Tax Credit’ to provide financial relief to seniors and persons with a disability who spend as much as $10,000 in one year to modify their residences.
The credit also may be used by individuals or caregivers who expend monies on home modifications and equipment for their spouses or common-law partners, as well as an eligible or infirm dependent.
So as to qualify for the tax credit, home-access modifications and equipment must be enduring in nature. They also must assist qualifying individuals gain access to, or be more mobile or functional within, their own residence, and reduce the risk of harm at home.