Whereas the Quebec government has recently announced a new tax credit to encourage home renovations, and the Official Community Plan of Saanich and of municipalities across British Columbia and Canada recognize the importance of home renovations, housing variety, affordability and adaptability in their communities quality of life, health, sustainability and economy; And whereas housing renovations are recognized to help seniors stay at home, help the special needs of a family member or convert a house to an intergenerational home, and create skilled employment for young people, and the use of refundable tax credits for renovations is known to boost energy efficiency, local economies and reduce off-permit renovations: Therefore be it resolved that UBCM urge the governments of the Province of British Columbia and Canada to create new tax credit programs for consumers to help encourage home renovations that focus on energy efficiency, improved mobility and aging in place projects, that are over 1,000.
Ministry of Finance The Provincial Government already provides a tax credit for seniors to encourage home renovations, and in Budget 2016, this tax credit was expanded to persons with disabilities. As such, the home renovation tax credit for seniors and persons with disabilities assists eligible individuals 65 and over and persons with disabilities with the cost of certain permanent home renovations to improve accessibility or be more functional or mobile at home.