In your case, Gayle, you are probably wondering in regards to the federal senior tax credit in addition to a provincial tax credit specific to Saskatchewan.
Income Tax Guide for Canadians
Deadlines, tax suggestions and more
What is the Federal Home Accessibility Tax Credit?
You don’t must be in Saskatchewan to receive this tax credit. The federal government Accessible Housing Tax Credit Eligible renovations apply in case you (or certain members of the family who live with you) are 65 or older at the top of the 12 months or in case you qualify for the Disability Tax Credit (DTC). To qualify for the DTC, you need to have a severe and prolonged physical or mental impairment and submit an application to the Canada Revenue Agency (CRA).
That may or will not be the case for you, Gayle. Others reading along should know that an eligible renovation should be everlasting and supply either:
- that the person has access to the house or is mobile or functional throughout the home;
- or reduce the chance of injury inside or while accessing the house.
There is not any specific list of eligible costs, but non-slip carpet could be justified.
The maximum claim is $20,000 in expenses and the tax savings, which varies by province, ranges from 14% to 26%.
What is the Medical Expense Tax Credit??
Some expenses might also qualify for a Medical Expense Tax Creditincluding renovation or construction costs that may not normally be expected to extend the worth of the house. Even individuals with normal physical development or individuals who don’t suffer from a severe and long-term impairment of their mobility would generally not bear the prices.
There are other home costs that qualify for a medical expense tax credit. Examples include air-con for somebody with a serious chronic illness or disorder; bathroom aids for getting out and in of the tub or shower or for entering and exiting a rest room; or an electrically operated chair to be used within the stairwell, including assembly. There could also be others, but non-slip rugs generally would not be an option in your case, Gayle.
What is the Saskatchewan Home Renovation Tax Credit??
Your province, Gayle, has reintroduced a Home renovation tax credit This was previously available in 2021 and 2022. It applies to tax years 2025 and 2026, but expenses between October 1, 2024 and December 31, 2025 may be claimed in 2025. So your carpet costs could also be eligible.
