B.C. Seniors' Home Renovation Tax Credit
The B.C. seniors home renovation tax credit assists individuals 65 and over with the cost of certain permanent home renovations to improve accessibility or help a senior be more functional or mobile at home.
You’re eligible to claim the credit for the year if on the last day of the tax year you’re:
- a resident of B.C., and
- a senior or a family member living with a senior.
The renovation must be to your principal residence, which is the home you primarily live in (including a non-seasonal mobile home).
The credit can be shared between eligible residents of the home to a maximum amount of the credit. The maximum amount of the credit is $1,000 per tax year and is calculated as 10% of the qualifying renovation expense (maximum $10,000 in expenses). The credit is a refundable tax credit, which means if the credit is higher than the taxes you owe, you’ll receive the difference as a refund.
The renovation or alteration must help a senior with an impairment by:
- improving access to the home or land,
- improving mobility and functions within the home or land, or
- reducing the risk of harm within the home or land.
The main purpose of the renovation can't be to increase the value of the home or land.