Renovation Assistance Now Available Through the Peel Renovates Program
BRAMPTON, ON. (April 11, 2013) – The Region of Peel is launching a new renovation assistance program, Peel Renovates, that provides funding to low-income homeowners who require immediate repairs or upgrades to their home.
Two categories of funding are available for one-time assistance:
- up to $16,000 per household for major home repairs and/or accessibility renovations or upgrades
- up to $3,500 per household for minor home renovations and adaptations for seniors
Eligible applicants will have a maximum household annual gross income of $50,000 or less; own their home – the maximum value of which is $447,004 or less; live in Peel region (Brampton, Caledon or Mississauga); and, demonstrate a need for renovation assistance or accessibility upgrades to remain in their home.
Examples of repairs include: structural, electrical, plumbing, window replacements, septic or water well systems, insulation upgrades, heating and fire safety. Accessibility upgrades to accommodate persons with disabilities include: ramps, handrails/grab bars; chair lifts; height to adjustments to counters, light switches or outlets; washroom renovation; and, alternate cues for doorbells and fire detection devices.
To apply, visit www.peelregion.ca/housing/peelrenovates or call 905-791-7800 ext. 3535. Annual funding for Peel Renovates is distributed on a first-come, first-serve basis. Once all funding is dispersed for the year, a notice will be posted on the website.
Healthy Homes Renovation Tax Credit
The Healthy Homes Renovation Tax Credit is a permanent, refundable personal income tax credit for seniors and family members who live with them. If you qualify, you can claim up to $10,000 worth of eligible home improvements on your tax return. The amount of money you get back for these expenses is calculated as 15 per cent of the eligible expenses you claim. For example, if you spend and then claim $10,000 worth of eligible expenses, you could get $1,500 back.
The Healthy Homes Renovation Tax Credit can help with the costs of improving safety and accessibility in your home. Explore the interactive house below for examples of changes you could make.
Do I qualify?
To qualify for the credit, you need to be:
- 65 years old or older by the end of the year for which you are claiming the credit; or
- living with a family member who is a senior
Your income doesn’t matter — seniors and their family members at all income levels are eligible.
If you are living with a senior relative in your home, you could qualify for a total tax credit of up to $1,500 every year, regardless of income.