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.
CTVNews.ca Top Stories
BREAKING New York appeals court overturns Harvey Weinstein's 2020 rape conviction from landmark #MeToo trial
New York’s highest court on Thursday overturned Harvey Weinstein’s 2020 rape conviction, finding the judge at the landmark #MeToo trial prejudiced the ex-movie mogul with improper rulings, including a decision to let women testify about allegations that weren’t part of the case.
BREAKING Monthly earnings rise, payroll employment falls: jobs report
The number of vacant jobs in Canada increased in February, while monthly payroll employment decreased in food services, manufacturing, and retail trade, among other sectors.
Doctors say capital gains tax changes will jeopardize their retirement. Is that true?
The Canadian Medical Association asserts the Liberals' proposed changes to capital gains taxation will put doctors' retirement savings in jeopardy, but some financial experts insist incorporated professionals are not as doomed as they say they are.
Secret $70M Lotto Max winners break their silence
During a special winner celebration near their hometown, Doug and Enid shared the story of how they discovered they were holding a Lotto Max ticket worth $70 million and how they kept this huge secret for so long.
Remains from a mother-daughter cold case were found nearly 24 years later, after a deathbed confession from the suspect
A West Virginia father is getting some sense of closure after authorities found the remains of his young daughter and her mother following a deathbed confession from the man believed to have fatally shot them nearly two decades ago.
Something in the water? Canadian family latest to spot elusive 'Loch Ness Monster'
For centuries, people have wondered what, if anything, might be lurking beneath the surface of Loch Ness in Scotland. When Canadian couple Parry Malm and Shannon Wiseman visited the Scottish highlands earlier this month with their two children, they didn’t expect to become part of the mystery.
Metro Vancouver mayors call for serial killer Robert Pickton to be denied parole
A dozen mayors from around Metro Vancouver say federal Attorney General and Justice Minister Arif Virani should deny parole for notorious B.C. serial killer Robert Pickton, and reassess the parole and sentencing system for 'prolific offenders and mass murderers.'
What do weight loss drugs mean for a diet industry built on eating less and exercising more?
Recent injected drugs like Wegovy and its predecessor, the diabetes medication Ozempic, are reshaping the health and fitness industries.
2 military horses that broke free and ran loose across London are in serious condition
Two military horses that bolted and ran miles through the streets of London after being spooked by construction noise and tossing their riders were in a serious condition and required operations, a British government official said Thursday.