What does Ontario’s new tax credit for seniors’ home care mean?
The Doug Ford government is proposing a new tax credit for seniors receiving care at home to cover some of the costs of medical devices, nurse’s visits or even the cost of dentures, wheelchairs or scooters.
Meant to add on to the existing provincial and federal medical expense tax credits, the Seniors Care at Home Tax Credit offers a 25 per cent tax break on a senior’s at-home medical costs up to $6,000.
The maximum amount the credit can net is $1,500.
Under the terms of the new credit, anyone 70 or older can claim expenses associated with home nurse visits, a hospital bed at home, wheelchairs, attendants, canes, oxygen, eyeglasses or hearing aids.
The credit is refundable and anyone earning up to $65,000 can qualify.
It is estimated to cost taxpayers $110 million this year and help up to 200,000 seniors.
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