THUNDER BAY -- The province hopes a new tax credit will help keep seniors in their homes.
Announced in October, the healthy homes renovation tax credit will provide up to $1,500 every year for people over 65 looking to make their homes more senior-friendly. The credit can also be used by someone who has a senior living with them.
Linda Jeffrey, Ontario's minister responsible for seniors, was in Thunder Bay Monday to promote the permanent credit.
Each year, the province will refund up to 15 per cent of $10,000 in renovations on everything from grab bars to non-slip floors.
With an estimated 380,000 people eligible for the program, that could initially cost the province more than $500 million. But Jeffrey said it would also stimulate the construction industry and save money in health care by helping seniors stay out of hospitals.
“We think this is money well spent. Anytime you can keep a senior in their home healthy, happy, longer rather than in hospital,” Jeffrey said after meeting with seniors at Mary J.L. Black Library. “(Keeping people in hospital) is a very expensive proposition. It’s not good for Ontario.”
Because the credit is permanent, seniors can make small renovations over years as their needs change Jeffrey said.
“This was about making small practical changes to your home,” she said.
Katherine Stewart and her husband have done some renovations to their home already but need to do more, especially in their bathroom. At 74, Stewart and her 80-year-old husband are planning a walk-in bathtub, non-slip floors and new toilets. The credit will help them she said.
“It’ll certainly help the bottom line when you’re on a pension you’re looking for every dollar that you can get.”
