Ontario is proposing a new tax credit that would help seniors stay in their homes longer and help create jobs.
Premier Dalton McGuinty was in Brampton today at Savaria - which manufactures products for people with mobility challenges - to talk about his government’s proposed Healthy Homes Renovation Tax Credit.
Toronto - November 16, 2011 - Ontario is proposing a new tax credit that would help seniors stay in their homes longer and help create jobs.
Premier Dalton McGuinty was in Brampton today at Savaria - which manufactures products for people with mobility challenges - to talk about his government’s proposed Healthy Homes Renovation Tax Credit. The credit would make it more affordable for seniors to install lifts and make other improvements to help them stay in their homes more safely and comfortably.
The credit would also create jobs by creating additional demand in the construction sector and for products that improve mobility around the home. It would support about $800 million in home renovation activity and around 10,500 jobs every year.
Helping seniors while creating jobs is part of the McGuinty government’s plan to build a strong economy and protect the services Ontarians rely on.
“In times of slower economic growth, it’s going to take all of us, working together to ensure our families are taken care of while we keep our economy moving forward. This credit would not only help our seniors live independently longer - it would also create jobs across the province and help build a stronger future,” said Dalton McGuinty, Premier of Ontario
“During uncertain economic times, the McGuinty government is finding innovative ways to create jobs and stimulate economic growth in Ontario. The new Healthy Homes Renovation Tax Credit is a step forward and would bring around 10,500 jobs annually to hard-working Ontario communities,” said Dwight Duncan, Minister of Finance
QUICK FACTS
The credit, up to $1,500 each year, would be available to senior homeowners and tenants, and people who share a home with a senior relative.
The credit would be effective October 1, 2011.
Examples of eligible improvements would include stair lifts, walk-in bathtubs and ramps.
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