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New Brunswick Seniors' Home Renovation Tax Credit
- Refundable
As announced in the NB 2015 Budget, a new refundable
personal income tax credit is available for 2015 and later tax years, for
renovations to your principal residence, which is the home you primarily live
in. The credit is 10% of eligible renovation expenses, to a maximum of
$1,000. The credit is not affected by your income level, and can be
claimed on your personal income tax return for the year.
You are eligible for this credit if, on the last day
of the tax year, you are:
- a resident of New Brunswick, and
- a senior or a family member living with a senior.
Eligible renovation expenses are renovations or
alterations that help a senior 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.
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