Senior’s tax credit will assist with renovations

If you are a senior staying in your own home during pandemic times, a proposed new senior’s renovation tax credit may help with the cost of renovations to make your home more safe and accessible and keep you in your home longer.

The Ontario government has proposed a Seniors’ Home Safety Tax Credit for the 2021 taxation year, which would provide a 25 per cent credit on eligible renovations of up to $10,000.

The tax credit would be a fully refundable tax credit for the 2021 tax year worth 25% of up to $10,000 ($2,500) in eligible expenses to make homes “safer and more accessible.”

Seniors would be eligible regardless of their incomes and whether they owe income tax for 2021. Family members who have a senior living with them would also be eligible. Eligible expenses include those that are paid for, or become payable in, 2021. The expenses must relate to renovations that improve safety and accessibility or help seniors be more functional or mobile at home.

Eligible expenses could include renovations to allow for first-floor occupancy or a secondary suite for a senior; wheelchair ramps, stair lifts and elevators; grab bars in washrooms to assist with use of the toilet, tub or shower, non-slip flooring, additional lighting, and automatic garage door openers.

“This is a very important new program that is available to all seniors, regardless of income,” said Huron-Bruce MPP Lisa Thompson. “The intent of the Seniors’ Home Safety Tax Credit is to help make homes…

Read more at www.thestar.com

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Common garage door repair related FAQ

How long does it take to replace a garage door?

Roughly 3 to 4 hours, if done properly.

How often should my a garage door be serviced?

Your garage door is a large piece of moving equipment made up of many parts. Some families use their garage door more than their front door. We recommend having your garage door and operator serviced every year in order to ensure a properly working door and operator. The noises your door or operator makes are your initial “warning signs” that something is not quite right. The longer you put off the necessary service, the more damage may result.

How long do garage door springs usually last?

The most common torsion springs have an expected life of about 10,000 cycles (one opening and one closing is a cycle.)

What is the life span of a garage door opener?

The average life span of a door opener can vary from 10 to 20 years depending on the model and usage.

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