Last year I wrote about the Federal Home Accessibility Tax Credit and neglected to mention that BC also has a Home Renovation Tax Credit.
The BC Home Renovation Tax Credit originally was for seniors, but as of 2016 it was extended to families with a member who qualifies for the Disability Tax Credit. Eligible renovations include work done after Feb 16, 2016 to:
- improve access to the home or land,
- improve mobility and functions within the home or land, or
- reduce the risk of harm within the home or land.
The credit is worth 10% of the renovation cost to a maximum value of $1,000 for $10,000 worth of renovation costs.
Can you claim this in addition to the federal Home Accessibility Tax Credit?
Yup! Just to be clear, you may claim the same receipts for:
- The federal Home Accessibility Tax Credit ($10,000 x 15%)
- The BC Home Renovation Credit ($10,000 x 10%) and
- A medical expense tax credit (with both federal and provincial components), although this is only for mobility issues
Can we claim this credit for 2016 if we have already filed our return?
Yup! Use the form T1-ADJ which is a simple one page form to claim this credit.
How do I claim this?
Visit Home Renovation Tax Credit for Seniors and Persons with Disabilities for more information.