Since January 1, 2023, a rental housing owner can obtain this tax credit for the renovation of multigenerational dwellings when he creates a second housing to accommodate a senior or a person with a disability to live close to his family.
The tax credit is 15% of the lesser of eligible expenses and $50,000, up to a maximum credit of $7500.
Eligible housing must be for a relative over the age of 65 or living with a disability. It can be a grandparent, a parent, child, grandchild, sibling, aunt or uncle and niece or nephew: “a self-contained dwelling with a private entrance, kitchen, bathroom and sleeping space”.
To obtain all eligibility requirements, go to the following link: https://www.canada.ca/fr/ministere-finances/nouvelles/2022/04/rendre-le-logement-plus-abordable.html
Good to know: Tax credit for the renovation of multigenerational dwellings
