Government of New Brunswick

New Brunswick Seniors' Home Renovation Tax Credit

New Brunswick Seniors' Home Renovation Tax Credit

As a senior 65 years or older in New Brunswick, you could qualify for a tax credit to help with the cost of making your home safer and more accessible.

The New Brunswick Seniors’ Home Renovation Tax Credit is effective for the 2015 and subsequent taxation years.

The New Brunswick Seniors’ Home Renovation Tax Credit is a 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 10 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 $1,000 back.

The New Brunswick Seniors’ Home Renovation Tax Credit can help with the costs of improving safety and accessibility in your home.

Eligibility

You are eligible to claim the credit for the year 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.

Seniors and their family members at all income levels are eligible.  If you are a senior or you are living with a senior relative in your home, you could qualify for a total tax credit of up to $1,000 every year, regardless of income.

The renovation must be to your principal residence, which is the home you primarily live in.

 

Claiming the credit

You can claim the credit when you file your personal income tax return for 2015 and future years.

Each year, you can claim expenses related to work billed for in that year. You must retain documentation to support your claim, including receipts from suppliers and contractors. You will not have to submit them with your tax return. But you will have to keep them in case the Canada Revenue Agency asks you to verify your expenses.

For the 2015 tax year: you can claim expenses related to work billed for between January 1, 2015 and December 31, 2015.

Learn more about how to file your income tax return.

 

Maximum 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 eligible 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.

 

Eligible renovation expenses

Not all renovation work qualifies for this tax credit.

The renovation or alteration must 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.

The main purpose of the renovation can’t be to increase the value of the home or land.